Price Bailey, Strategic Corporate Finance, have supported BARBRI, Inc. (“BARBRI”) in its acquisition of leading UK legal training course provider Kaplan Altior (“Altior”). Altior is the legal education arm of the global education services company, Kaplan Inc. BARBRI is a premier provider of practical legal education in the USA and internationally; this acquisition expands on their global legal training offering.
The UK legal education market is expecting considerable changes with the introduction of the new Solicitors Qualifying Exam. This will see a complete restructure in the staged process of becoming a solicitor and this acquisition provides BARBRI a foothold in this changing market.
Price Bailey’s UK based Strategic Corporate Finance (SCF) team headed the project and carried out due diligence reporting focusing on the quality of earnings and working capital. This enabled the team to provide assurance on the recent performance of the Altior business and identify any necessary working capital adjustments, in particular around deferred revenue and revenue recognition. The SCF team reported on key findings with regards to deal drivers throughout the course of the project.
Stephen Reed, Strategic Corporate Finance Partner at Price Bailey mentioned; “We supported BARBRI with the acquisition of the trade and assets of Altior. We are delighted to have assisted BARBRI in expanding their service offering in the Solicitors Qualifying Exam preparation course market. We wish BARBRI every success with the integration of Altior and we hope to provide continued support going forward.”
Dan Wilson, Chief Financial Officer at BARBRI noted: “We are extremely pleased to have completed the acquisition of Kaplan Altior. Price Bailey played an instrumental role in supporting our due diligence efforts and ensuring this was a successful and smooth transaction. I would like to thank Stephen and his team for their personable approach, financial and accounting expertise and the support they provided throughout the deal.”
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Price Bailey Chartered Accountants
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About Price Bailey
Price Bailey is a top 30 accountancy practice specialising in providing accountancy and business advice to enable the growth of regional, national and international businesses. In addition to traditional accounting services, the firm has a range of specialists in many areas which combine to provide a complete, integrated business offering. These include tax consultancy, corporate finance, strategic planning, insolvency & recovery and employment law.