November 13, 2013 @ 7:54 am
FARMINGTON HILLS, Mich. – Beringea, LLC, a private equity firm providing growth capital to market-leading businesses, has announced Beringea LLP of London, UK, has sold its portfolio company Espresso Group Limited to Discovery Communications Inc. The financial terms of the transaction were not disclosed.
The exit is the sixth this year for the private equity group, which includes Beringea, LLC and Beringea LLP.
Established in 1997, Espresso Education is the UK market leader in high quality, video-rich, digital curriculum content provision in the UK, supplying almost 50 percent of UK primary schools with its services. The service is delivered in almost 11,500 schools. The company specializes in taking educational concepts and applying a “real world” context to support understanding through a combination of video and multimedia resources.
Beringea LLP’s Stuart Veale commented: “In the time we have been invested in Espresso we have seen the business grow into a clear market leader serving nearly 50 percent of UK primary schools.”
Lewis Bronze, co-founder of Espresso Education commented: “We have received excellent support and encouragement from Beringea over the period of their investment in Espresso. We are now looking forward to working with Discovery Education on the next stage of growth for the company.”
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Beringea, LLC provides equity and/or mezzanine debt to small- and-middle market companies. Founded in 1988, the Firm is headquartered in Farmington Hills, Michigan. Beringea, LLC’s office in London, UK operates as Beringea LLP. Beringea invests in portfolio companies operating in a range of sectors, including health care, clean technology, advanced manufacturing, media, Internet technologies and specialized consumer products. With flexible capital solutions, extensive investing experience and offices in the U.S. and UK, Beringea’s team offers its portfolio companies the resources to grow their businesses and create value for shareholders. For more information, visit www.beringea.com.
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