Averna Capital invests in Study International UK

Averna Capital invests in SI UK, the leading international student recruitment company to UK that provides free support to university applicants.

London, 23rd of June 2022 – Averna Capital, the mid-market European private equity firm, today announces that it has completed an investment in SI UK, the leading international student recruitment company for UK Higher Education Institutions.

As the market leader in student placement and support to the UK market, SI-UK works closely with most UK universities and Higher Education Institutions in achieving their international student recruitment goals. The company assists students throughout the entire university application and selection process, allowing universities access to high-quality students from across the globe and through SI-UK’s 80+ offices in 40 countries.

SI-UK was founded in 2006 in Tokyo, Japan by Dwayne Gallagher and Orion Judge and has grown to become one of the most trusted student recruitment firms to the UK, representing almost 200 Higher Education Institutions, to date SI-UK has assisted over half a million students with advice and applications to the UK, with an expectation of assisting over 220,000 applications for 85,000 student applicants converting to over 18,000 enrolments in 2022 alone.

“We are delighted to partner with Dwayne & Orion and support SI during its next phase of growth. The business offers an indispensable bridge between universities and students, and we are impressed with the international footprint across source markets it has built to date. Universities see great benefits to recruitment of greater volumes of high-quality international students and the United Kingdom is one of the world’s most favoured destination markets recognised for its high quality of higher education” says Stephen Green, Founder Partner at Averna Capital.

Averna Capital will provide capital for further growth and support to SI in continuing: the internationalisation process; developing its data & technology capabilities; and in building an institutional platform appropriate to its growing footprint.

“We started with offices in Tokyo and Osaka followed by London shortly thereafter. Over the last 16 years, SI-UK has shown stellar growth and expanded across all corners of the world reaching 80 offices across 40 different countries, including offices, sales and marketing teams in 9 out of the top 10 student source countries. We have built long-lasting relationships with the majority of UK universities and are consistently committed to offering them the best-in-class services. We believe there is significant potential to grow further, which can be unlocked by partnering with the right institution and we are excited to continue our journey alongside Averna” explains Dwayne Gallagher, co-Founder of SI UK.

“Working with Averna’s highly experienced team, Stephen Green, Richard Tudor, Pierre-Edouard Harant, and Oana Nafornita, and utilising Averna’s sizeable investment, SI-UK will be able to expand its operations, staffing, services, marketing and technology to more fully support client universities, and students globally. This investment ensures SI will reach our target of 100,000 student placements per year over the coming five years” says Orion Judge, co-Founder of SI UK.

Averna Investment Company III Limited has committed to a significant investment into SI-UK being the first and only investor to date. The Founders remain significant shareholders and will continue to lead the company alongside Averna as partners.

The terms of the transaction are not disclosed.

Averna was advised on the investment by: KPMG (financial due diligence and tax); Dickson Minto and Mourant (Legal). SI UK was advised by: Macquarie (M&A); Eversheds (Legal); PWC (Financial); and Cairneagle (Market).

For more information, see the website www.avernacapital.com or contact
Averna Capital
Email: contact@avernacapital.com

SI-UK provides free advice and support to international students applying to study in the UK. It is a leading recruitment agent for almost all Higher Education Institutions in the UK, with presence in 40 different source markets. Founded in 2006 in Tokyo, Japan, SI has grown to become a global business with 80+ offices processing over 220,000 applications for 85,000 students.

Averna Capital
Averna Capital is an independent mid-market private equity firm founded by Richard Tudor and Stephen Green in 2019 that pursues unique opportunities which leverage its team and network’s wealth of experience. The Averna team’s long track record of generating strong returns for investors and successful deal execution makes it a preferred partner for investors, business owners and management teams.