Horizon Capital takes majority stake in JUNIPER EDUCATION

Horizon Capital acquired a majority stake in Essex Education Services for Schools from Essex County Council in July 2019, carving the business out of the local authority and rebranding it Juniper Education. Built around the Target Tracker software and a range of professional services for schools, it became Horizon's platform to consolidate the fragmented UK market for software and services to primary and secondary schools, with more than half of the equity committed by the Horizon 2018 fund set aside for future acquisitions. Clydesdale Bank provided the debt, along with further facilities for follow-on deals. Gavin Freed became executive chairman, alongside finance director Mike Bibby, with former Tribal chief executive Peter Martin and James Randall as non-executive directors and Horizon managing partner Simon Hitchcock, who led the deal, on the board. Operations director Keren Prior, sales and marketing director Jason Oster and business development director Gareth Owen completed the executive team. The investment was Horizon's second buy-and-build platform of the year, after its investment in STRAT7 in March. Horizon was advised by Pinsent Masons on legal matters, Deloitte on tax and pensions, Forward Corporate Finance as financial advisor, Clearwater on debt, and RSM and CJK Associates on financial and commercial due diligence, while Womble Bond Dickinson advised management.