Spectrum Corporate Finance has successfully advised the shareholders of privately owned education group The Riverston Group on the sale of Riverston School and Beech Hall School to Chatsworth Schools, which is backed by Synova PE.
Originally founded in 1926, Riverston School in London is a non-selective education provider specialising in supporting children with a wide range of speech, language and communication difficulties, which include dyslexia, autistic spectrum disorder (ASD), Asperger's and attention deficit hyperactivity disorder (ADHD). In more recent time Riverston School has begun supporting children with more complex needs and also beyond the age of 16 years through its Riverston College provision.
Sister school Beech Hall is a long-established, independent school situated in 19 beautiful acres in Macclesfield, on the edge of the Peak District National Park. Both schools currently provide a highly personalised and individual education for children from 6 months, in their nursery facilities, to 16 years of age.
Spectrum Corporate Finance was appointed by the family owners to complete a full sales process to find a good home for the schools, which involved both trade buyers and private equity investors. Multiple offers were received prior to entering into exclusivity with Chatsworth Schools. Once selected as a preferred partner Spectrum helped structure the deal and project manage the process through to a successful completion, delivering an excellent outcome for the owners.
Chairman of The Riverston Group Professor Michael Lewis, has accepted an invitation to join Chatsworth Schools as a Governor.
Professor Michael Lewis, Chairman, The Riverston Group, said:
“I am delighted to announce the transfer of ownership of Riverston School and Beech Hall School to Chatsworth Schools. The next stage in the growth of our schools will be greatly enhanced by the involvement of a broader educational team, which can deepen the range of experience, collaboration and support available. I have known Anita Gleave, Founder and CEO of Chatsworth Schools, for more than 10 years and I cannot think of anyone more suitable to take our schools to the next phase of development.”
“Janina and I would like to give a BIG thanks to Spectrum for their tremendous support in getting the sale of our long held family business completed. The team provided us with a huge amount of support throughout the DD process and went well over and beyond the call of duty to get the deal completed. Spectrum provided a very professional and empathetic management service throughout the whole process with lots of sensible, sensitive advice and much appreciated 24/7 personal support. Without Spectrums input we would have floundered to get the deal completed. We were very impressed by the quality of their teamwork and the overall service they provided and wish Spectrum every possible success in the future.”Professor Michael Lewis, Chairman of The Riverston Group
“We are extremely proud that Chatsworth Schools has acquired Riverston School and Beech Hall School. We are confident that the change in ownership will ensure a bright future for both schools and look forward to building on the inspiring work of the Lewis family”.Anita Gleave, Founder and CEO of Chatsworth Schools
“It is always rewarding to help long term owners and entrepreneurs to achieve the exit they deserve after many years of hard work, as well as see a business pass over to new owners, like Chatsworth, who are the right custodians for the future. I am sure the children, parents, staff and local authorities will continue to receive the excellent education service provision that Michael and Janina have delivered for many years.”Clive Hatchard, Managing Director of Spectrum Corporate Finance