Pacific Equity Partners to acquire Modern Star from Navis Capital for $435m.

Pacific Equity Partners, a private equity firm, agreed to acquire Modern Star, a supplier of educational supplies, from Navis Capital Partners, a private equity firm, for $435m. "When we invested in Modern Star our objective was to leverage Modern Star’s platform to reach almost every K-12 educational institution in Australia, grow share of wallet and double its market share, which we have successfully accomplished. The business also performed strongly during Covid-19, demonstrating the resilience and diversification of the B2B platform. We wish the management team all the best as Modern Star embarks on the next phase of its growth journey with PEP. As for Wisdom, we continue to see strong growth prospects for the brand and the long-term macro thematics underpinning the kindergarten sector in China," Philip Latham, Navis Capital Head.