US firm Advent seeks to sell Singapore tutor chain Learning Lab again, sources say
This is its second attempt since 2021 to unload the asset.
US investment firm Advent International is exploring the sale of Singapore's tutoring company The Learning Lab, sources reveal. This is the second attempt since 2021 to offload the asset, partly aimed at debt repayment, according to people with knowledge of the situation. An adviser has been hired to facilitate the sale, which is expected to fetch between US$400 million and US$500 million (S$514.6 million to S$643.3 million).
A portion of the proceeds will be utilized to settle a S$265 million private credit facility provided jointly by KKR & Co, HPS Investment Partners and Nomura Holdings in 2023. This debt is scheduled to mature in 2027. While Advent declined to comment on the matter, sources indicate it holds a full stake in the company. The Learning Lab offers education services for early years, primary, secondary, and junior college students in Singapore, as well as online offerings in Malaysia, Vietnam, Thailand, and Indonesia. The monthly fee for junior college programs is approximately S$702.
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