14 Dec 2011 17:44
PURCHASE OF INTERNATIONAL HOUSE DUBLIN
Ticker: (Bloomberg) INM.ID/INM.LN and (Reuters) INME.I/INME.L
Dublin/London, 14th December 2011: Independent News & Media PLC ('INM' or the 'Group') today (Wednesday) announced that it has purchased International House Dublin (IHD), a leading English language education institution from shareholders including Dublin-based private equity firm, Kish Capital.
The transaction is worth a maximum of €1.6 million subject to certain performance targets being met.
The acquisition will complement Independent College Dublin (ICD), one of Ireland's fastest growing private colleges and a leading provider of undergraduate, postgraduate and professional programmes in Ireland.
IH Dublin has been a member of the IH World Organisation for the past thirteen years and has recently been accredited by EAQUALS. In addition to its English language teaching, IH Dublin is a major teacher training provider offering year-round CELTA and DELTA courses from the University of Cambridge ESOL Examinations Department.
ICD undergraduate and postgraduate degree courses are accredited by HETAC (Higher Education and Training Awards Council), the University of the West of England (UWE) and Chester University.
International House Dublin will move into Independent College's modern facility on Dawson Street, in the heart of Dublin's city centre. IHD's more than 4,000 foreign students will have full access to the College facilities and have the opportunity to continue their studies in Ireland, choosing from an extensive range of over 75 academic, professional and diploma courses provided by ICD. International House will continue to be managed by its current team, with Larry Finnegan as CEO, Mary Grennan as Director of Studies and Aoife Govern and Karen Nolan managing the marketing department. Additionally, Larry Finnegan will be taking on an additional role as Head of International Marketing for the Business College.
Larry Finnegan said: "International House Dublin is the leading English as a Foreign Language school in Ireland with the best teachers, the best facilities and, now, the best location in the city."
Independent College CEO Garret Doyle said: "This is an excellent fit for both institutions. We see significant synergies and great opportunities to offer a more compelling and wider choice of education programmes to both Irish and international students as a result of this acquisition."
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For further information, contact:
Karl Brophy Director Corporate Affairs +353 1 466 3200 (office) / +353 86 047 1951 (mobile) |