University of Law sale hands roles to Linklaters, Travers Smith and Eversheds
Montagu gets rid of institution less than three years after landmark £200m acquisition
June 04, 2015 at 08:55 AM
2 minute read
The University of Law (ULaw) has been acquired by Global University Systems (GUS) for an undisclosed sum in a deal that has handed roles to Linklaters, Travers Smith and Eversheds.
Private equity house Montagu, advised by Linklaters, has sold the institution less than three years after its purchase.
GUS, owners of the London School of Business and Finance (LSBF) and St Patrick's College, turned to Eversheds for advice, while Travers Smith acted for the senior management of ULaw on the sale, led by private equity head Paul Dolman with support from tax partner Russell Warren.
GUS will continue to operate ULaw as a distinct school. However, a strategic review of the company's UK business on completion of the deal "may see realignment of some, or all, of GUS UK's existing businesses under the umbrella of ULaw", it said in a statement.
Former Labour education secretary and LSBF visiting lecturer David Blunkett will chair a new-look ULaw board.
The formerly charitable College of Law was bought by Montagu for £200m in 2012. The institution became Britain's first 'for profit' university later the same year when it was granted university status and changed its name to the University of Law.
Linklaters led for Montagu on that original purchase with Allen & Overy advising the college on negotiations.
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