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KKR, Bregal agree to sell global schools group Cognita

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KKR, Bregal agree to sell global schools group Cognita

New York City-based private equity firms KKR & Co. and Bregal Investments Inc. agreed to sell Cognita to Swiss private equity firm Jacobs Holding AG for an undisclosed sum.

The target company, formed by Bregal in 2004, is an educational group that operates more than 70 schools across eight countries and a student roster of more than 40,000. KKR became a 50% shareholder in Cognita in 2013.

The deal is scheduled to close in the fourth quarter, pending regulatory approvals.

Goldman Sachs International and Barclays were the financial advisers for Bregal and KKR, while Bank of America Merrill Lynch advised Jacobs Holding on the transaction.