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Vardis Supports Bridgepoint & Cambridge Education Group

Vardis Proud To Support Bridgepoint & Cambridge Education Group in Appointing John Sunderland as Non-Executive Chairman

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Sir John Sunderland appointed to the position of non-executive Chairman of the Cambridge Education Group with effect from 01 September 2014.

Fergus Brownlee, Chief Executive of the Cambridge Education Group "Since the investment by Bridgepoint in December 2013 we have carefully considered identifying and then attracting the right individual to join us at this exciting and pivotal time in the development of our business."  Sir John is the non-executive Chairman of Merlin Entertainments. Merlin Entertainment backed by the Blackstone Group and CVC Partners, and lead the IPO on the London Stock Exchange in November 2013 with a market capitalisation of $5.3 billion. It was the Financial News Private Equity Deal of the Year 2014.  He is a non-executive Director of Barclays Bank PLC and AFC Energy plc and an adviser to CVC, Private Equity firm.

Previously, Sir John was Chairman of Cadbury Schweppes from 2003 to 2008 having been the Chief Executive Officer from 1996 to 2003. Sir John was also President of the CBI from 2004 to 2006, President of the Chartered Management Institute from 2006 to 2007, President of the Food and Drink Federation from 2002 to 2004, a non-executive Director of the Rank Group from 1998 to 2006 and a Director of the Financial Reporting Council from 2004 to 2011. Sir John is also Chancellor of Aston University, a member of the Council of The University of Reading and an Associate Member of BUPA.

Cambridge Education Group (‘CEG’), the specialist provider of foundation programmes and English language training for international students wishing to prepare for university, was acquired by Bridgepoint in 2013  in a transaction totalling £185 million in enterprise value and resulting in an acquisition multiple of 11x current year forecast EBITDA. The business was sold by Palamon Capital Partners who acquired the group in 2007.

 

 

 

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