Drama school agrees £6.5m takeover
They opened the school after Ms Manuel, an actor, writer and drama teacher, spotted a niche in the market for a dance, drama and singing school for children between the ages of four and 18.
She teamed up with Mr Sprigg, who describes himself as a failed rock star who was "rescued" from his job at Barclays, where he was a lending manager.
The business started with three schools in rented rooms, in Richmond, Redhill and Woking, but it developed into a franchise business and now has 684 schools across the globe including the US and Australia.
Some 600 of its operations are in the UK, where it teaches 34,000 students a year.
Mr Gandhi, a partner at private equity firm Encore Capital, said the company will be able to grow faster as a private company.
Shares rose 63%, close to the 65p offer price.
Chairman Graham Cole said: "The offer represents an opportunity for shareholders to achieve an immediate cash exit for their shareholding at a significant premium to the company's recent share price."
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