Lyceum Capital built Asquith Schools into the largest independent owner and operator of day preparatory schools in the UK by the time it sold the business to Englefield Capital in November 2004. Englefield Capital is committed to further growth of Asquith Schools.
Lyceum repositioned Asquith Schools as an independent business in 2002, with a fresh strategy for re-establishing investment in infrastructure and growth. Substantial investment was put into new IT and MIS systems, as well as in marketing, business development and teaching resources and infrastructure. Second-tier operating management and HR policies were strengthened to improve staff morale and reduce staff turnover. Staff numbers doubled to over 620 during Lyceum's ownership. Management was strengthened on independence by the appointment of a new MD and CFO, retaining all former senior management in new roles.
By mid-2004, Asquith had substantially increased the size and the quality of its schools group. It had acquired the well-known Downsend Schools in 2003 and the leading London school, North Bridge House, in July 2004. The number of pupils increased from around 2,500 on acquisition to more than 4,300 when the company was sold.
Because decisive action was taken to improve all schools� facilities and operating performance, the business was achieving good profitability by 2004 when it attracted the interest of Englefield Capital.
