Private equity-owned education company Navitas has secured a chunky cash injection from some of its largest shareholders as the sector stares down a plan to cap foreign student enrolments.
Street Talk understands that founder Rod Jones and a number of large co-investors have added around $100 million to the education provider, which now has a $2.4 billion enterprise value. The deal, ruled off last month, also saw Melbourne buyout firm BGH Capital, which struck a buyout deal with Navitas in 2019, tip in just under $50 million.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
