Education & training business sold to private equity firm
The governors of the College of Law announced this week that they have sold its education and training business to Montagu Private Equity.
It will continue to be known as the College of Law, and will continue as before under its chief executive officer, Professor Nigel Savage.
The proceeds of the sale will be invested in the college’s charitable body, which will be separated from the education and training business and renamed the Legal Education Foundation. With funds of more than £200m, it will be one of the largest independent educational charities in the UK. It aims to promote legal education and to provide bursaries, grants and scholarships.
Professor David Yates, chairman of the governors, said: “Montagu’s investment will give the College of Law the freedom and support to continue to build its position as a leading professional legal education institution in the UK and internationally.
“The governors were clear in their views that Montagu would be an excellent guardian of the college, ensuring a continuation and enhancement of the focus on academic excellence, exceptional teaching and client service that has long characterised the college’s work.”
Professor Savage said: “The market for legal services is embracing new business models and a change in our ownership structure will enable us to access investment and expertise to take full advantage of the huge opportunities in the domestic and global legal education market. This will build on our heritage and connections with law firms and organisations such as the Open University and International Bar Association.”
