Cairo – Mubasher: EFG Hermes, a subsidiary of EFG Holding, advised on Maarif Education’s full acquisition of Ibn Khaldoun Education Company (IKEC), according to a recent press release.
This transaction anchors Maarif Education to become the largest K-12 education provider in Saudi Arabia by both revenue and geographical presence.
Maarif plans to scale up its footprint and provide high-quality educational experiences to students nationwide, backing Saudi Arabia’s Vision 2030.
Karim Meleka, Co-Head of Investment Banking at EFG Hermes, said: “Upon completion, this acquisition will position Maarif as the leading private K-12 education provider in the Kingdom, advancing its strategy to expand high-quality private education in alignment with the Kingdom’s vision.”
“This transaction marks our 3rd advisory mandate in the sector this year, having earlier executed the $66.90 million ABB on Taaleem Education and the $514.60 million IPO of Alef Education on the ADX,” Meleka added.
Last November, EFG Hermes launched a $300 million Saudi Education Fund (SEF) to establish an institutional world-class K-12 operator in Saudi Arabia.
