The Learning Lab collaborates with Best Learning in the field of education.

Advent International, one of the largest and most experienced private equity firms, is the controlling shareholder and financier of The Learning Lab's investment in Best Learning, aiming to create an educational platform in Asia. This investment reflects Advent's efforts to establish a multi-center educational service platform in the region, following its investment in The Learning Lab in 2014. The two companies will share teaching models and curricula to enhance student learning quality.

Founded in 2009 and headquartered in Beijing, Best Learning is a leading provider of premium English language tutoring services for children in China. The company utilizes US-sourced teaching materials and serves approximately 50,000 students. The preschool-to-high school English tutoring market in Beijing, Shanghai, and Shenzhen is valued at approximately US$1.9 billion and is projected to grow by 18% annually from 2017 to 2022, with the premium English tutoring segment experiencing 25% year-on-year growth. As the third-largest operator in the premium English tutoring segment in Beijing, Best Learning has a strong foundation for growth with 27 centers across four cities – Beijing, Shanghai, Shenzhen, and Changsha – and plans to expand its network to other cities.

David Ellison, CEO of The Learning Lab, said, "We see that Best Learning and The Learning Lab can collaborate in several key areas such as center management, operational models, branding, and teaching. Overall, the two companies are aligned to deliver meaningful learning experiences for students, preparing them for school and life. We can advise Best Learning on diversifying its curriculum for the 7-12 age group and improving math and science teaching skills. Furthermore, we believe Best Learning's proprietary IT platform and mobile application will be a significant asset to our services in Singapore. Our leadership team, with its extensive knowledge of managing large-scale educational operations in Asia, is eager to collaborate in multiple areas and help Best Learning optimize its existing platform."

Vivian Feng, CEO of Best Learning, said, "The English language teaching sector for children in China is going through a really exciting phase: favorable demographics mean a growing number of children aged 2 and above, driving demand for English language learning, and parents are increasingly able to afford to support their children's education. With the support of Advent and The Learning Lab, we will focus on our core competencies and expand our programs to older age groups, while developing our brand and expanding our market share in the high-quality English language teaching segment in China."

Philippo de Vecchi, CEO and Co-Chairman of Greater China at Advent International in Hong Kong, said, "The collaboration between The Learning Lab and Best Learning is a significant step forward in Advent's efforts to create regionally-oriented education. We see tremendous growth potential in both companies and the after-school education sector, and we leverage their extensive experience and expertise in educational services to help drive the platform's growth. We will also continue to seek investment opportunities in other Asian markets to further expand the platform."

Advent has extensive experience in the education sector. In addition to The Learning Lab, the company's global education investments include Estácio, the second-largest higher education company in Brazil; FSG, a leading private education company in Southern Brazil; Skillsoft, a US provider of cloud-based learning solutions; WSiP, the largest publisher of textbooks and educational materials in Poland; and Kroton, the most profitable private education company in Brazil.

(Reporter)

The Thanh