Cavendish

Cavendish advises on £130 million sale of the SENAD Group

Cavendish Corporate Finance is delighted to announce the sale of The SENAD Group on behalf of Sovereign Capital Partners LLP for a total consideration of £130 million to an undisclosed buyer. The transaction generated an IRR of 110 percent and represents a return of 6x money for Sovereign.

SENAD is the largest for profit provider of Special Education Needs (SEN) in the UK and currently offers over 400 places for children and young adults across seven schools and four care homes located in Derbyshire, Staffordshire and Wales. SENAD is the pre-eminent dedicated provider of SEN schools in the country.

The sale follows Cavendish's successful management of a controlled auction process aimed at maximizing shareholder value and finding the right business partner for SENAD.
Cavendish also worked with the SENAD management team for over 12 months prior to the sale, implementing an Exit Review exercise in order to maximize profits and position the business most effectively for a sale.

Terry Lee, the Chairman of SENAD Group, said that this process 'allowed us to align and mobilize all stakeholders on the key priorities that have the most impact on valuation over a 6-18 month period - a very valuable exercise.'

The sale of SENAD Group represents the 12th deal that Cavendish has advised on since January.

Cavendish contacts for further information:
[Hugo Haddon-Grant], Managing Director
[Min Luk], Director, Business Services Group
Nadia Sayeed, Executive

[Go to deal information »]
[Back »]