Two Horse Capital will acquire K-12 business of Paramount for $130m.

Two Horses Capital(THC), an investment vehicle owned by a managing partner and a senior advisor at TPG Capital Asia, will acquire the K-12 business unit of Paramount Corporation, a pioneer in private primary and secondary education in Malaysia. Paramount said it has entered into a conditional share sale and purchase agreement with THC to dispose of its equity in Paramount Education, Paramount Education (Klang), and Sri KDU for a cash consideration of 540.5m ringgit ($130.2 m). The deal is subject to approval by Malaysia’s Ministry of Education and shareholders. It is expected to complete by the end of 2019. "We are happy to embark on this journey with Paramount, the largest K-12 education group in Malaysia. We strongly believe in both the group and industry's growth potential in Malaysia and abroad," Tunku Ali, THC Founder.