Bridgepoint Said to Hire Advisers for Infinitas Sale

Mar 31, 2014 12:27 pm ET

(Corrects name of adviser in headline, first paragraph of story originally published March 28.)

March 28 (Bloomberg) -- Bridgepoint, a London-based private-equity firm, hired UBS AG and ING Groep NV to advise on a possible sale of education publisher Infinitas Learning, according to four people with knowledge of the matter.

The company may fetch as much as 700 million euros ($962 million), including debt, said two of the people, who asked not to be identified because the talks are private.

Bridgepoint acquired Infinitas from Wolters Kluwer NV for 774 million euros in 2007. Last year it appointed Goldman Sachs Group Inc. to sell a division of Infinitas, textbook publisher Noordhoff Uitgevers, a process that was subsequently abandoned. The buyout firm has begun a process of extending the repayment date for 400 million euros of Infinitas debt to 2016, said two of the people.

Infinitas provides primary, secondary and higher vocational educational material, content and services to 90,000 schools in six European countries, according to the buyout firm’s website.

Officials for Bridgepoint, UBS and Goldman Sachs declined to comment on the sale process. ING and Infinitas didn’t respond to e-mails seeking comment.

Private-equity firms typically pool money from investors such as pension plans and endowments with a mandate to buy companies, then sell them and return the money and a profit after 10 years. The firms usually charge a management fee of as much as 2 percent and keep 20 percent of the profits from investments. Bridgepoint raised 4.8 billion euros for its fourth pool of capital in 2008.