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Arco to Acquire COC and Dom Bosco Learning Systems

Nachrichtenquelle: Business Wire (engl.)
06.03.2021, 15:12  |  116   |   |   

Arco Platform Limited, or Arco (Nasdaq: ARCE), today announced that it has entered into a definitive agreement (the “Purchase Agreement”) with Pearson Education do Brasil Ltda. (“Pearson”) to acquire COC and Dom Bosco, two important K-12 learning systems in Brazil, for R$920 million in cash.

“The acquisition of COC and Dom Bosco learning systems reinforces our strategy to further strengthen our positioning in Core solutions for the private K-12 segment. It brings geographical and price complementarity to our Core portfolio, allowing our platform to better serve the overall market,” said Ari de Sá Neto, CEO and founder of Arco.

COC and Dom Bosco have over 50 years of academic track record in Brazil, serving over 800 partner schools and around 210 thousand students in all regions of the country, from pre-K to high school and pre-university. The brands have a strong presence in the Southeast region of Brazil, especially in the state of São Paulo.

Arco expects to accelerate the growth of COC and Dom Bosco by updating their content and technology, improving distribution and customer service capabilities, as well as cross-sell supplemental solutions within the COC and Dom Bosco partner school base.

Transaction Details

Pursuant to the Purchase Agreement, Arco will acquire 100% of COC and Dom Bosco learning systems for R$920 million in cash, equivalent to 14.4x 2020 EBITDA, with (i) 80% of the purchase price payable at the time of closing, and (ii) the remaining 20% of the purchase price payable on the first anniversary of the closing date, as adjusted. The transaction also includes an agreement with Pearson to distribute some supplemental educational solutions for K-12 schools in Brazil.

This transaction is not subject to any shareholder approvals, but is subject to customary closing conditions, including Brazilian antitrust approvals.

Rothschild & Co served as financial advisor and Lobo de Rizzo served as legal advisor to Arco. JP Morgan served as financial advisor and Madrona Advogados served as legal advisor to Pearson.

Transaction Conference Call Information

Arco will discuss this acquisition on Monday, March 8th, 2021, via a conference call at 8 a.m. Eastern Time (10 a.m. Brasilia Time). To access the call, please dial: +1 412 717 9627 or +1 844 204 8942 (US); +44 20 3795 9972 (UK); +55 11 4210-1803 or +55 11 3181-8565 (BR). An audio replay of the call will be available through March 15th, 2021 by dialing +55 11 3193-1012 and entering access code 1608874#. A webcast of the call will be available at https://webcastlite.mziq.com/cover.html?webcastId=4c6c78b6-18de-45bd-8 ....

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Disclaimer

Arco to Acquire COC and Dom Bosco Learning Systems Arco Platform Limited, or Arco (Nasdaq: ARCE), today announced that it has entered into a definitive agreement (the “Purchase Agreement”) with Pearson Education do Brasil Ltda. (“Pearson”) to acquire COC and Dom Bosco, two important K-12 learning …

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