The sale – subject to conditions, including the satisfaction of competition and regulatory authorities – will see students continue to be taught by existing university staff under Navitas’ ownership.
These programs will continue to be recognized as qualifications for admission to study at individual university level, the company noted.
Taylors College Sydney provides a pathway to the University of Sydney, Taylors College Auckland to the University of Auckland and a terminal school to the University of Waikato.
“We are very excited about today’s announcement, which solidifies our position as the largest travel provider in the region,” said Scott Jones, CEO of the Navitas Group.
“Today’s announcement cements our position as the largest travel provider in the region”
Navitas has 11 partnerships with universities in Australia, including the University of Canterbury in New Zealand, as well as 15 in Europe and seven in North America.
“We very much look forward to welcoming these three universities to the global Navitas community and working with these highly respected university partners to support their internationalization strategies and ultimately increase access to higher education for international students.
“Our priority now is to ensure that the transition of ownership is as smooth as possible for staff and students at the colleges.”
Study Group and Navitas added that their teams are working closely with university partners and other stakeholders to facilitate a “seamless transition” for current and prospective students.
The study group cooperates with more than 50 universities around the world. Private equity firm Ardian acquired a majority stake in the education provider from asset manager Providence Equity Partners in 2019.
The Study Group’s accounts to 31 December 2021 show total annual turnover in Australia was £1.6m (down from £2.6m in 2020) and £179,000 in New Zealand (down from £229,000 in 2020 ). This compares to £20.5m in the UK for 2021, down from £22.3m a year earlier.
Companies House also shows that former chief executive Emma Lancaster is no longer listed as a director of the company from 1 September 2022.