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Stephenson Harwood advises on £70 million takeover of Wey Education by Inspired Education
Law firm Stephenson Harwood LLP has advised Inspired Education, the global education provider, on its £70 million public-to-private takeover of AIM-listed Wey Education plc.
Founded in 2007, Wey Education delivers education services directly to its customers through its online live teaching and learning platform, represented by its two brands InterHigh and Academy21. The Inspired business owns and operates more than 65 premium private-pay K-12 schools, with 48,000 students enrolled across 20 countries globally.
The acquisition of Wey Education by Inspired values the entire issued share capital of Wey Education at approximately £70 million on a fully-diluted basis. The deal comprised a recommended, all-cash offer by Inspired Education Online Limited, a wholly-owned indirect subsidiary of Inspired Holdings, and has been effected by a Court-sanctioned scheme of arrangement in accordance with the UK Companies Act and the Takeover Code. The scheme was sanctioned on 24 May by the Courts and became effective on 25 May.
The Stephenson Harwood team was led by corporate partners Tom Nicholls and David Dowding, with support from senior associate Victoria Silver and associate Matthew Gallagher. Partner John Meehan advised on tax matters, associate Michèle Aubertin advised on the employment aspects of the deal, and of counsel David Baxter advised on share options matters.