- Deal type Management Buyout
- Sector Education and Training
- Year 2017
- Status current
RJD backed the management buyout of Class Tours, a provider of immersive language programmes and educational tours to UK schools, in October 2017 as a platform investment for further consolidation in its sector.
RJD first made contact with Class Tours in June 2016 following a direct origination exercise into the wider educational and activity school programme sector which had been identified as a key area of focus for RJD’s third fund. We quickly recognised the strong position it held in its niche resulting from its innovative approach to the content and structure of its educational programmes combined with its strong commitment to customer service. RJD was able to structure a transaction which allowed the partial exit of a co-founder of the business whilst maintaining the significant equity stake of the key ongoing members of the management team.
Between initial contact and making our investment in 2017 we developed a good relationship with Class Tours’ managing director and co-founder, Nigel English, and developed confidence in his plan to grow the business. Under RJD’s ownership Class Tours will invest in its existing sites in mainland Europe and acquire further sites to cater for the increased demand in specific areas of the educational travel sector. RJD will also make capital available to grow the business through complimentary corporate acquisitions which expand Class Tours’ offering into adjacent services.