Warburg Pincus taps Goldman to sell Liaison International

Warburg Pincus has put Liaison International on the block after a seven-year hold, sources familiar with the process told Buyouts.

Goldman Sachs is advising Liaison on the sale, the people said.

The process is in the early stages, the sources said. It’s unclear when bids are due, they said.

Liaison, of Watertown, Massachusetts, is an EdTech software-as-a-service company, which provides admissions management and marketing automation solutions to reach prospective students and streamline administrative tasks.

In 2012, Warburg bought a majority stake in the company from Polaris Partners.

Liaison’s sale is expected to fetch around $800 million, the sources said. The EdTech company generated $80 million in revenue in 2018, the people said.

Warburg Pincus, which manages more than $62 billion in private equity assets globally, has always been focused on education and technology investments among other areas.

Besides Liaison International, some of the firm’s former and current education and technology investments include ACAMS, iParadigms, Skillsoft and Stratford School.

Most recently, in June, the firm closed its latest fund Warburg Pincus China-Southeast Asia II on $4.25 billion. This is the firm’s second fund dedicated to investments in China and Southeast Asia regions.

Spokesperson for Warburg Pincus and George Haddad, CEO and founder of Liaison International, declined to comment on the deal.

Action Item: Contact CEO of Liaison International by email.