Maarif to Acquire Ibn Khaldoun Education in Strategic Expansion
Deal News | Nov 25, 2024 | PR Newswire Cision Maarif Education
Maarif Education, a leading education company in Saudi Arabia, has announced its strategic acquisition of Ibn Khaldoun Education Company (IKEC). This definitive agreement, pending regulatory approval, will see Maarif acquire 100% of IKEC, which currently operates four schools in Riyadh and enrolls around 13,000 students. With this acquisition, Maarif's student enrollment will increase to over 36,000, making it the largest K12 education provider in Saudi Arabia by both revenue and geographic presence. The acquisition aligns with Vision 2030's objectives and is part of Maarif's expansion strategy in the Kingdom. Industry leaders, including Maarif's CEO Eng. Ihab Osman, emphasized the transformative potential of this acquisition in elevating educational quality and access across the country.
Sectors
- Education
- Private Equity
Geography
- Saudi Arabia – The article is about an acquisition within the education sector in Saudi Arabia, a focal point for educational growth under Vision 2030.
Industry
- Education – The article discusses the acquisition within the K12 education sector, focusing on increasing enrollment and geographic expansion in Saudi Arabia.
- Private Equity – The acquisition by Maarif, a major player in the education private industry, illustrates investments and strategic positioning in the Saudi education market.
Financials
- 60% – Maarif's size increase percentage post-acquisition.
- 13,000 – Current enrollment of students at Ibn Khaldoun Education Company.
- 36,000 – Estimated total number of students at Maarif post-acquisition.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Maarif Education | Acquirer | Company | A leading Saudi Arabian education company, operating numerous educational complexes across the Kingdom. |
| Ibn Khaldoun Education Company (IKEC) | Target | Company | A prominent education provider in Riyadh, Saudi Arabia, operating 4 schools with 13,000 students. |
| Dr. Husam Zaman | Vice Chairman, Board of Directors | Person | Vice Chairman of the Board of Directors at Maarif Education. |
| Eng. Ihab Osman | CEO | Person | Chief Executive Officer of Maarif Education. |
| Thunayyan al Obaikan | CEO | Person | Chief Executive Officer of Ibn Khaldoun Education Company. |