B2B information. The UK-based TES Global teachers information business (formerly the Times Educational Supplement) has been sold by TPG to Providence Equity Partners for a price believed to be some £250-300m. With 11.6m registered online users, TES connects teachers and schools, with around 500k teachers clicking to apply for jobs last year. The believed reduction in price from the £400m paid by TPG in 2013 reflects the decision to de-merge the Times Higher Education Supplement (THS) and its World University Rankings – but also the flatlining of TES Global which made 2017 EBITDA of £33.6m on £75.5m revenue. This is the fourth time TES has changed hands in the 13 years since it was sold by News Corp to Exponent private equity for £235m. Exponent (something of a media specialist in the UK market) flipped it two years later to Charterhouse for a rumoured £250m, but not before increasing profits by 50%. But that was the high-point for the recruitment classifieds which had long buoyed TES. Six long years later, Charterhouse sold a much-more-digital and global TES for £400m to TPG, which is thought unlikely to to recoup what it had paid, even after selling THS early in 2019 for an expected £100m. The Times Education Supplement was launched in 1910 as a free insertion in the Times newspaper. It became a standalone weekly in 1914. TES’s growing library of CPD content for teachers is claimed to be the largest in the English-speaking world.
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TPG sells TES education to Providence
