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Business News Education & Events
BIMM not for sale, despite reports otherwise
By Chris Cooke | Published on Wednesday 27 November 2013
If you were hoping to own a music school, well I’m afraid you’ll have to hold on a bit longer. Despite a report in the Daily Telegraph yesterday, BIMM has denied that it is on the market.
BIMM, which has colleges in Brighton, Bristol, Dublin and, since earlier this year, Manchester, as well as owning the London-based Tech Music School, has itself been majority owned by Sovereign Capital since 2010.
The Telegraph reported that the equity firm had appointed Rothschild to lead “a strategic review of the business”, seemingly after a number of parties expressed an interest in buying the music education business, which currently boasts 3400 students across its facilities.
However, while a spokesperson for Sovereign admitted that Rothchild had been brought in “to review strategic options”, BIMM Marketing Director David O’Connor told Brighton newspaper The Argus that that didn’t mean the firm was up for sale, rather further expansion was on the cards.
O’Connor said: “We conducted a strategic review eighteen months ago which was when we decided to expand the courses to include event management and to open a new college in Manchester. BIMM has appointed financial advisor, Rothschild’s, to help it access further investment to build on the group’s success in 2012-13. This process will aid the ongoing development of existing centres, further UK college expansion and setting up BIMM internationally in Europe, US or Asia”.
