Eight-figure investment will boost education company’s global reach
Orbital Education, the Cheadle Hulme-based international schools’ company, has secured an eight-figure investment from HSBC UK.
The multimillion-pound revolving credit facility will be used to expand the group’s international operations.
Orbital Education operates nine schools across three continents, but said it aims to develop more quality international schools in diversified locations serving local families and expats.
Its schools currently provide British, bi-lingual and local curricula to children aged three to 18 across Europe, Asia and South America, delivering results which are ahead of global averages and enabling access to leading universities.
Using the HSBC UK funding package, Orbital Education will continue to expand and enhance its current school estate and will seek additional growth opportunities in the international schools sector.
The HSBC UK-funded expansion of Orbital Education is expected to add thousands of new student places globally and many new posts for UK teachers and education professionals, as well as further expand the workforce of its headquarters in Cheadle.
Kevin McNeany, Orbital Education chair, said: “Orbital is an ambitious company and the support of HSBC – and now this funding – represents great endorsement of our plans. We firmly believe this significant investment will further increase standards and enable thousands of children worldwide to fulfil their ambitions.”
Zubayr Atcha, global relationship director at HSBC UK, said: “It’s fantastic to support Orbital Education with its international growth plans and help the business to continue providing education to children around the world. We look forward to seeing the business continue to strengthen its operations across the UK and beyond.”
The deal was supported by Darren Gretton, director of HSBC UK Structured Finance, and Scott Syme, senior director of HSBC UK Transaction Management. Legal support was provided to HSBC UK by Tim Fearn, partner and team from Pinsent Masons and provided to Orbital Education by Matthew Christmas, partner and team from DLA Piper. Financial due diligence was supported by Gareth Hann, director and team from KPMG and Anthony Collier, partner and team from FRP Advisory.
Orbital Education was founded by Kevin McNeany in 2008, and currently educates almost 5,000 young people and employs more than 500 staff globally.