Friday, July 30, 2010

Carlyle Sells Rest of Wall Street Institute to Pearson

WSJ reported:

The Carlyle Group Thursday said that it has sold English training business, the Wall Street Institute, to U.K.-based publisher Pearson PLC (PSON.LN) for $92 million.

The Journal failed to note Pearson's 2009 purchase of Wall Street English, the firm's China division. Pearson paid $142 million. Carlyle's combined proceeds equal $234 million.

The Carlyle Group paid $40 million for the firm in 2005. Their $194 million profit is nearly a quintuple. Carlyle's great cash in continues.