Exclusive: Exam Papers Plus mandates Lincoln to explore sale
UK-based digital test preparation provider Exam Papers Plus has appointed Lincoln International to explore a sale.
This publication has learnt that the company is exploring the possibility of finding an investor to further grow and expand and is having conversations with potential buyers, including private equity funds, according to two sources close to the process.
Exam Papers Plus generates EBITDA of around £3.5 million and expects to further increase its margin and double its turnover in the next few years, according to one of our sources.
“This is a successful business that has grown very fast in the last few years and is likely to attract several bidders, especially among mid-market private equity firms that want to expand their portfolio in the ed tech sector by investing in a highly profitable asset,” one of our source said.
The company is led by director and majority shareholder Faisal Nasim, who founded the business in 2014. According to our sources, in the eventuality of a sale, Nasim intends to retain a minority stake in the company and continue to be involved in its management.
Based in Isleworth, London, Exam Papers Plus provides practice papers, tests and video courses to help students familiarise themselves with the content, format and style of their assessments and exams across the UK.
The company offers its prep material through two digital platforms: exampapersplus.co.uk and pretestplus.co.uk.
Exam Papers Plus and Lincoln International declined to comment.