Timezone, Quadrant Team Up In Entertainment & Education Group

Posted On: 11/16/2017

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PERTH, Western Australia -- Timezone Group has announced that it is partnering with Quadrant Private Equity (Sydney, New South Wales) to accelerate the growth of Timezone's business.

Under a binding agreement, Quadrant and Timezone's Steinberg family will invest to create The Entertainment and Education Group. Timezone Group was founded by Malcolm Steinberg here in 1978. It has grown into a leading international family entertainment and education business, with some 200 Timezone and Timezone Play & Learn stores six countries: Australia, India, Indonesia, New Zealand, The Philippines and Singapore.

The new TEEG will be led by Timezone's present managing director Scott Blume and group chief executive officer Sonaal Chopra. Malcolm and Adam Steinberg will remain with TEEG as members of the board overseeing the business. The other members are Quadrant Private Equity's Chris Hadley and Jonathon Pearce.

TEEG's strategy is to invest significant growth capital across Australia. Private consumption growth across South East Asia is forecast to be over 30% across the next five years, largely focused on education, entertainment and leisure.

Timezone founder Malcolm Steinberg observed that "With Quadrant's investment, we are excited to take on an experienced and credentialed investor who will help drive the business further and to greater heights."

Incoming TEEG chairman Chris Hadley, executive chairman, who also chairs Quadrant, explained that "the business fits with the investment strategy of Quadrant of investing in strong brands, experienced management teams and businesses with significant growth opportunities. We intend to deploy substantial capital to grow the business in Australia and throughout Asia."