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James Cowper Kreston provide transaction support for BIMM Institute and Sovereign Capital in their acquisition of Northern Ballet School

29 June 2020

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James Cowper Kreston’s Corporate Finance team recently provided transaction support to BIMM Institute and Sovereign Capital for their acquisition of Northern Ballet School.

The Northern Ballet School is based in Manchester and has a 430-seat theatre.  This will also be the location for BIMM’s Institute of Contemporary Theatre Manchester campus which launches in September. This follows BIMM’s acquisition of Performers College in 2019.

Sovereign Capital is a private equity firm that invests in high quality businesses, in specific sectors, to achieve accelerated growth and deliver strong returns. Sovereign originally invested in BIMM in 2010.  Since then the Group has expanded from two colleges in Brighton and Bristol, to 12 colleges across Europe, through strategic acquisition and roll-out.  

James Cowper Kreston’s transaction services team undertook financial due diligence for BIMM and Sovereign Capital on this transaction.

Brad McAvoy, Corporate Finance Director at James Cowper Kreston said: “We were excited to work with the team at BIMM and Sovereign Capital on their acquisition of the prestigious Northern Ballet School in Manchester.  It is pleasing to see investment continuing in the current economic climate for quality assets. Congratulations to Adam Carswell and team at BIMM and James Dargan and team at Sovereign Capital.  We look forward to working with you both again soon.”

James Dargan, Investment Director at Sovereign Capital said: “Brad and the team performed very high quality financial due diligence which allowed BIMM and Sovereign to fully understand the business from an accounting and cash flow perspective. JCK team’s granular approach combined with commercial acumen were key in facilitating this transaction despite the current macroeconomic backdrop”