Allens has advised longstanding private equity client, Pacific Equity Partners (PEP), on the acquisition of the Australian and New Zealand operations of educational resources business, Modern Star, from Navis Capital.
Modern Star supplies educational resources to early childhood centres and schools.
'We are thrilled to work with PEP as it expands its investment portfolio into the education sector,' said lead partner, Kounny Rattley.
'Particularly so as Modern Star is PEP's first investment for its new $2.5 billion buyout fund, Fund VI.'
In addition to Allens' Private Equity specialists, the broader team included experts from: Banking and Finance (who worked on the unitranche funding structure for the acquisition), Employment and IP.
'This acquisition builds on our close working relationship with PEP and we congratulate them on signing the inaugural deal for PEP Fund VI,' said Tom Story, Head of Corporate.
