In common with Health & Care, the education and training markets benefit from favourable demographics, rising demand and changing models of service provision. In the UK, demand is dominated by the state sector but decision-making is decentralised. There are many opportunities to provide essential services to both the government and the independent sector. The UK has a global reputation for the high quality of its education provision. This makes international expansion attractive, either by opening centres overseas or by attracting overseas students to the UK. While Covid-19 has disrupted the traditional delivery system for education, many sector participants have adapted well to this disruption by digitising their offering and by further embracing technology solutions. The demand for education services remains fundamentally solid and the sector is expected to be at the forefront of the recovery journey from Covid-19.
Our most successful realisation to date has been the sale of Education Personnel for 5.8x cost, where we merged two large providers of supply teachers to state schools to create the market leader and then generated strong organic growth. We are currently expanding Explore Learning, a leading provider of after-school tuition with over 100 centres and a highly compelling digital offering. Most recently, we set up Empowering Learning to capitalise on opportunities in the supply teaching and training sectors, subsequently acquiring Team Teach, one of the most established players in the sector.