Education software company bolsters acquisition chest to £60m

Birmingham’s Clearwater International has advised Juniper Education, the Horizon Capital backed education software company, on its refinancing with Muzinich & Co, joining existing lender Clydesdale Bank to bolster its acquisition chest to £60m.

Formed in June 2019 and backed by a £20m equity commitment from Horizon Capital, Juniper Education’s SaaS software and subscription services increase the effectiveness of schools, help improve outcomes for learners, and create more child-time for teachers.

The company has rapidly expanded through a combination of organic growth and acquisitions, reinforcing its ambition to deliver to schools the best software to support effective education integrated with innovative management information and results-driven services all from the same provider.

Juniper expects to continue its buy-and-build strategy whilst also investing in innovation and software development.

The refinancing will help consolidate the company’s position in the fragmented school software market and enable product development and further acquisitions.

The Clearwater International team comprised partner Chris Smith, director Lachlan Dorrity and associate Eleanor Pryse-Hawkins.

Clearwater International previously advised on the acquisition of Juniper Education (previously known as Essex Education Services for Schools) by Horizon Capital in 2019.

Simon Hitchcock, managing partner at Horizon Capital, said: “The acquisitions Juniper Education has made in the past 12 months have provided a strong foundation to establish the company as a leading software provider in the education market. It was great to work with the Clearwater Debt Advisory team once again on this transaction. The team were able to use industry expertise to deliver a robust package which focused on our requirements. This additional funding is an exciting development for the organisation and we look forward to continuing to support the management team’s ambitious growth plans.”

Chris Smith, partner, Clearwater International, said: “It was a pleasure working with the team at Juniper on this transaction, which we were able to complete in a really short timescale, despite the ongoing challenges. Juniper is a quality business and has grown quickly during the last couple of years through both organic growth and acquisitions. Demand for its services will only increase as the pandemic progresses and remote learning becoming the new norm. We are confident that this investment will provide Juniper with the financing it needs to continue with its exciting expansion strategy. We would like to wish the entire team all the best.”

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