In February 2007, Palamon acquired Cambridge Education Group from its husband and wife Founder team, having identified the high growth opportunity in helping UK universities internationalise their student intake.
Following investment, Palamon built out the management team and provided the growth capital to make significant investments in a global marketing capability, management infrastructure and increased teaching capacity. Palamon initiated the formation of a new and highly profitable business division which taught students on campus at 16 leading universities across the UK and the Netherlands. The business was further internationalised with the establishment of a university partnership in Boston, paving the way for a potential roll-out across the US during the next phase of ownership.
By the time the business was sold in December 2013, the number of students taught per year had grown from 460 to more than 3,100, generating a five-fold increase in revenue and driving EBITDA from £0.5 million to £17 million.