ULaw bought up by international education network

The University of Law (ULaw) has been sold for the second time in quick succession, this time to an international network of higher-education institutions.

The acquisition by Global University Systems (GUS), which is headquartered in Amsterdam, comes just three years after Montagu Private Equity bought ULaw for approximately £200m shortly before the university was granted permission to change its title from the College of Law.

GUS already owns several education institutions across the UK, including the London School of Business and Finance (LSBF), the London College of Contemporary Arts, and St Patrick's International College - the UK's largest private school - as well schools in Canada, Germany, and Singapore.

The group educates over 50,000 students from 160 different nationalities and employs over 1,500 full-time faculty and administrative staff globally.

Strategic review

Post-completion, GUS is to initiate a strategic options review of all its UK regulated businesses to consider the optimal structure for the combined ULaw and GUS UK group.

Aaron Etingen, founder and executive chairman of GUS, commented: 'The acquisition of the University of Law adds an asset of unique strategic value to GUS. The options review exercise will deliver us a blueprint for one of the most comprehensive private universities in Europe.'

In February, GUS-owned St Patrick's was suspended from the Student Loans Systems. The private college was re-admitted in Mayafter being told it must address quality concerns, including a drop out rate of over 30 per cent.

GUS UK has said it is keen to benefit from ULaw's 'proven approach to quality assurance, enhancement, and the attainment of the highest standards of regulatory compliance'.

'Having ULaw ultimately provide a proven governance and quality framework for GUS' UK interests is a major benefit to us and will further enhance the impact of our work with students and employers alike,' added Etingen.

Blunkett appointment

GUS and ULaw have also entered into a formal governance agreement consistent with the arrangement made between the university and its previous owners, Montagu.

Former secretary of state for education, David Blunkett, is set to become the new chair ULaw's board. Meanwhile, John Latham will continue to lead the university as president and CEO, together with the rest of the executive team.

While the fee paid for ULaw remains undisclosed, GUS has announced that the change of ownership will make substantial additional capital available to the university and enable it to accelerate its plans for future growth, diversification, and geographic expansion.

'This combination of the global reach and resources of GUS with the record and strengths of ULaw will enable us to accelerate delivery of the university's existing and ambitious plans for international growth, diversification, and further enhancement of the student experience,' said Blunkett.

Another announcement earlier this week saw global law firm Mayer Brown partner with ULaw to launch of a new legal apprenticeship programme that will lead successful applicants to qualify as solicitors.

 

John van der Luit-Drummond is deputy editor for Solicitors Journal
john.vanderluit@solicitorsjournal.co.uk | @JvdLD