Apax Partners to Buy Cadence Education From Morgan Stanley
February 12 2020 - 12:02PM
Dow Jones News
By Colin Kellaher
Private-equity firm Apax Partners on Wednesday said its funds
have agreed to buy Cadence Education from investment funds managed
by Morgan Stanley Capital Partners for an undisclosed amount.
Cadence, based in Scottsdale, Ariz., operates roughly 225
private preschools through a network of more than 40 brands.
London-based Apax said it expects to complete the transaction in
March, adding that the investment from its funds will help Cadence
continue its growth through acquisitions and the expansion of its
core capabilities.
Morgan Stanley acquired Cadence from Audax Private Equity in
2016.
Morgan Stanley Capital Partners is a middle-market
private-equity platform of Morgan Stanley Investment Management,
the asset-management unit of New York-based Morgan Stanley.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
February 12, 2020 11:47 ET (16:47 GMT)
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