Thursday 28 Mar 2024
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SINGAPORE (Jan 12): Singapore-based private equity firm Tembusu Partners has divested its entire 36% stake in education group Ednovation to CDH Investments for over S$50 million.

The disposal by Tembusu Growth Fund II and Tembusu Growth GIP Fund represents an internal rate of return of more than 30% for the three years that Tembusu has held Ednovation, the group says in a press release on Thursday.

Established in 1991, Ednovation operates more than 60 pre-schools in Asia under the brands Cambridge, ChildFirst and Shaws.

Since Tembusu’s investment in May 2013, Ednovation’s revenue has increased four-fold. During this period, the education group also acquired two pre-school chains, Cambridge Preschools and Shaws Preschools.

“This successful exit is consistent with our track record of nurturing education businesses in Singapore and the region while creating value for investors,” says Emily Goh, Principal of Tembusu.

“Ednovation has benefited substantially from Tembusu’s support as a strategic partner. We are ready for the next phase of growth with CDH as we set our sights on becoming one of the leading pre-school operators in the region, especially in China” says Ednovation founder Dr Richard Yen.

 

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