The Private Equity team at UK law firm Shoosmiths has advised Five Arrows Principal Investments and Five Arrows Capital Partners (Five Arrows), the European and US private equity arms of Rothschild & Co.
The advice is in relation to Five Arrows’ significant new investment into Texthelp, a global leader in education technology, for an undisclosed sum.
Headquartered in Belfast, Texthelp is an international business that has supported 30 million students and employees across Europe, the Americas, the Middle East and Australasia with their reading, numeracy, writing and productivity challenges, and provided online learning products and tools during the COVID-19 pandemic that help to avoid learning loss and aid remote working.
The Shoosmiths team who advised on the investment comprised Amit Nayyar, lead partner; Claire Checketts, partner; Aleks Bosch, senior associate; Adam Frost, associate and George Peyton, trainee solicitor.
Sacha Oshry, managing director at Five Arrows Principal Investments said: “We are absolutely delighted and privileged to be partnering with Martin and his leadership team as Texthelp enters its next stage of growth. Texthelp is a global market leader with high recurring revenue, a proven track record of organic growth with demonstrable resilience, and significant untapped potential. We believe that Texthelp’s innovative and high-quality products make the company well-positioned to capitalize from the powerful structural growth trends in the global assistive technology and remote working markets in both the education and corporate sectors.”
Martin McKay, founder & CEO, Texthelp said: “We are thrilled and honoured to be working with Five Arrows as we enter the next stage of our growth and expansion. We were impressed by their focus on data, software and technology-enabled businesses, and their active supportive approach to scaling businesses.”
Amit Nayyar said: “This complex deal involved UK, Australian and US elements where multiple bidders were taken to the final offer stage and we moved from bid through exchange and onto completion of the deal in just three days. It was a fascinating transaction to work on, and we look forward to seeing Texthelp’s impressive management team and Five Arrows powering the next stage of Texthelp’s exciting journey helping students and employees to succeed worldwide.”
Five Arrows Principal Investments focuses on leading B2B data and software companies across healthcare, education, and data and software and technology-enabled business services.