ONCAP acquired a majority stake in the International Language Academy of Canada Inc. ("ILAC"), in partnership with ILAC's founders and management, in August 2019.
Based in Toronto, Ontario, ILAC is one of the best-known English language schools in the world. For over 20 years, ILAC has offered international students a full learning experience that focuses on specialized English language and vocational programs, exceptional customer service and exciting social events. Its newly renovated campuses in Toronto and Vancouver feature modern interior design and a vibrant learning environment. Every year, ILAC welcomes thousands of students from over 100 countries, creating a dynamic and diverse student population at the school.
ONCAP was attracted to ILAC due to its: (i) market-leading position in Canada and globally recognized brand; (ii) excellent culture focused on the student experience; (iii) track record of market-leading growth; (iv) strong and committed management team; and (v) attractive cash flow characteristics. ONCAP, in partnership with management, aims to create value by expanding ILAC's course and ancillary service offering, opening new campuses and pursuing consolidation opportunities in this highly fragmented industry.