Emma Watson enrolled at Stagecoach Theatre Arts School in Oxfordshire |
The founders of a drama school attended by Harry Potter star Emma Watson have agreed to a £6.5million takeover by a private investor.
Stagecoach Theatre Arts was set up by drama teacher Stephanie Manuel and banker David Sprigg in 1988 from three rented rooms in Surrey, but it now has some 700 schools across the globe.
Shares in Stagecoach soared 24.5p to trade at 63.50p by late morning.
The school was opened 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.
Apart from Ms Watson, other famous pupils include Tom Fletcher, lead singer in McFly.
In recently-released results for the half-year to 30 November 2011, Stagecoach admitted UK student numbers had fallen during a 'difficult economic period'.
It reported a £66,000 pre-tax loss against a £72,000 profit in the same period the year before.
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