U.S. Private Equity Firm to Purchase TSL Education for $600M

HOT POTATO: UK-based TSL Education (later renamed TES Global), an online hub of resources for teaching professionals around the world, is switching hands once again from one private equity firm to another, reports Reuters. TPG Capital LLP, based in San Francisco, has agreed to purchase the company for an estimated 400 million pounds ($600 million) from UK private equity firm, Charterhouse Capital Partners. The deal is expected to close in Q3 2013, which will mark the fourth change of ownership for TSL Education. (Charterhouse acquired it in 2007 from Exponent, which purchased it from News International in 2005.) Here's the press release.

TSL Education is best known for its flagship TES Connect platform, which boasts over 620,000 resources for its community of over 52 million teachers and students around the world. Other offerings include regional online hubs for educators in India, recruitment platforms, and events and creative services. Recently, it partnered with the American Federation of Teachers to create ShareMyLesson, a platform for lesson plans and teaching resources aligned to the Common Core.

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