PwC and PKF Smith Cooper advise on education deal in SEND segment
The Aurora Group, one of the UK’s largest providers of specialist education and care services, has acquired R.E.A.L. Education, a smaller counterpart from Mansfield. PwC provided buy-side M&A advisory, while PKF Smith Cooper guided the sale process.
With over 1,200 children and young people supported every day, The Aurora Group is one of the largest providers of Special Needs & Disability (SEND) schools, colleges, and residential care homes across the United Kingdom.
Hot on the heels of the organisation’s expansion into the East Midlands, with Aurora Ryefields School opening soon in Derby, The Aurora Group has now acquired R.E.A.L. Education, a provider of special education services in the East Midlands.
R.E.A.L. Education is a provider of independent school placements, vocational provision and alternative provision for young people aged 7-19 with special educational needs and disabilities, who are unable to access mainstream education. Its vocational curriculum, which is offered from 17 sites across East Midlands, equips learners with practical skills and qualifications.
“We’re delighted to welcome everyone at R.E.A.L. Education to The Aurora Group,” said Mark Costello, Chief Executive Officer of The Aurora Group. “We will work with staff, students and families to build upon R.E.A.L. Education’s success, providing unique educational opportunities to those that need them the most.”
Dan Slater, Strategy Director of The Aurora Group, added, “This is great news for the staff, students and families of R.E.A.L. Education. There are many benefits to being part of Aurora, including opportunities for staff to extend their knowledge and progress their careers, and further investment in facilities for students.”
The dealmakers
The deal was initiated by R.E.A.L. Education, following the decision by its shareholders to transfer ownership to new owners.
The corporate finance division of PKF Smith Cooper was appointed to provide pre-sale strategic advice, identify buyers, discretely market the business, negotiate on behalf of the sellers, and manage the deal through to completion.
“Finding a buyer who shares our deep commitment to the people we support and employ was crucial to us, and we are glad to have found in The Aurora Group an organisation that shares our values, commitment to excellence and belief in the strength of our team,” said Richard Smith, co-founder of R.E.A.L. Education. “Their vision aligns with ours and we are confident that this transition will bring new opportunities for growth and continued success.”
PKF’s deal team was led by the Corporate Finance practice, with David Crump serving as the leader. Callum Leslie, Natasha Scott, Gavin West, and Sarah Flear supported the deal with multi-disciplinary expertise in areas such as transactions, tax, and finance.
“We are delighted to have advised R.E.A.L. Eduction on the sale of the business to The Aurora Group who share the same passion and care. I wish them every success for the future,” said Crump.
Other dealmakers on the sell-side were Flint Bishop (legal) and EFM (financial management services).
Buyer The Aurora Group meanwhile was advised on the acquisition by PwC and Shoosmiths. Ashurst provided additional legal support and Womble Bond Dickinson advised Barclays who provided debt funding for the transaction, alongside equity provider, Octopus Group.
