Spark Education Platform Expands in Saudi Arabia with Qimam El Hayat Acquisition
Deal News | Jan 29, 2025 | Zawya
Spark Education Platform (SEP) has announced its second acquisition in Saudi Arabia as part of its strategic expansion in the Kingdom’s education sector. Owned by the Saudi Education Fund (SEF) and managed by EFG Hermes, SEP has entered into definitive agreements to acquire a majority stake in Qimam El Hayat International School in Riyadh. This acquisition is part of SEP’s broader strategy to enhance its offerings and presence in high-quality international education in KSA, following its recent purchase of four schools. Established in 2005, Qimam El Hayat has grown into a full K-12 institution offering the American Curriculum to over 3,000 students. SEP plans to relocate this school to a modern campus and increase its capacity by over 50%. This transaction aligns with SEF’s objective to establish a world-class educational operator in KSA as part of the country's Vision 2030. SEP’s portfolio will grow to include eight schools across KSA, UAE, and Bahrain. Key stakeholders expressed optimism about the partnership, emphasizing its potential to enrich the educational experiences offered to students.
Sectors
- Education
- Private Equity
- Financial Services
Geography
- Saudi Arabia – The primary focus of the article is on the activities of Spark Education Platform in Saudi Arabia, including the acquisition of a school in Riyadh.
- Middle East – The article mentions the expansion of Spark Education Platform across the Middle East, including KSA, UAE, and Bahrain, highlighting regional implications.
Industry
- Education – The article discusses the acquisition of a school by a company focusing on K-12 education, highlighting the significant role education plays in the strategic growth of the company involved.
- Private Equity – The investment activities, acquisitions, and strategic fund management undertaken by the Saudi Education Fund (SEF) and EFG Hermes highlight the involvement of private equity in the education sector.
- Financial Services – EFG Hermes, managing the Saudi Education Fund, provides a range of financial services including investment banking and private equity, indicating the financial sector's involvement in the transaction.
Financials
- USD 300 million – This is the size of the Saudi Education Fund launched by EFG Hermes to establish a K-12 educational operator in KSA.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Spark Education Platform | Bidding Company | Company | A fast-growing K-12 operator in KSA, owned by the Saudi Education Fund, expanding its educational portfolio. |
| Qimam El Hayat International School | Target Company | Company | A K-12 educational institution in Riyadh offering international education, recently acquired by SEP. |
| EFG Hermes | Investment Manager | Company | The leading investment bank in MENA, managing the Saudi Education Fund that owns SEP. |
| Saudi Education Fund (SEF) | Owner | Company | A $300 million fund aimed at establishing a world-class educational operator in KSA, owning SEP. |
| Ahmed Wahby | CEO | Person | CEO of Spark Education Platform, overseeing strategic acquisitions and expansion. |
| Dr. Omar Sulaiman Alajaji | Chairman | Person | Chairman of Qimam El Hayat International School, involved in the partnership. |