Maarif Education Strengthens Hold in Saudi Arabia with Ibn Khaldoun Acquisition
Deal News | Dec 02, 2024 | Zawya
EFG Hermes, acting as an advisor for Maarif Education, has guided the company in its acquisition of Ibn Khaldoun Education Company, thereby establishing Maarif as the leading K-12 education provider in Saudi Arabia by revenue and geographical reach. This strategic move is aligned with Saudi Arabia's Vision 2030, aiming to enhance the quality of private education in the region. According to Karim Meleka, Co-Head of Investment Banking at EFG Hermes, this acquisition is a significant step in the firm's strategic expansion. The transaction signifies EFG Hermes' third advisory undertaking in the education sector this year, after the $66.90 million ABB on Taaleem Education and the $514.60 million IPO of Alef Education on the ADX. Last year, the firm also launched a $300 million Saudi Education Fund to establish a premier K-12 education operator in Saudi Arabia.
Sectors
- Education
- Investment Banking
Geography
- Saudi Arabia – The acquisition of Ibn Khaldoun Education Company by Maarif takes place within Saudi Arabia, aligning with the country's Vision 2030 educational goals.
- Cairo, Egypt – EFG Hermes, the advisor for the transaction, is based in Cairo, Egypt, indicating cross-border advisory involvement.
Industry
- Education – The article discusses Maarif Education's acquisition to become the largest K-12 provider in Saudi Arabia, emphasizing the education sector.
- Investment Banking – EFG Hermes, an investment bank, facilitated the acquisition, highlighting the role of financial advisory services in M&A activities.
Financials
- $300 million – Last year, EFG Hermes launched a $300 million Saudi Education Fund to enhance K-12 education.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Maarif Education | Acquirer | Company | Maarif Education is the acquiring company and aims to become the largest K-12 education provider in Saudi Arabia. |
| Ibn Khaldoun Education Company | Target Company | Company | Ibn Khaldoun Education Company is the target company acquired by Maarif Education. |
| EFG Hermes | Financial Advisor | Company | EFG Hermes is an investment bank advising Maarif Education on the acquisition. |
| Karim Meleka | Co-Head of Investment Banking | Person | Karim Meleka is the Co-Head of Investment Banking at EFG Hermes and commented on the transaction. |