Riyadh – Mubasher: Spark Education Platform (SEP), owned by the Saudi Education Fund (SEF) which is managed by EFG Hermes, an EFG Holding company, has entered into definitive agreements to acquire a majority stake in Qimam El Hayat International School in Riyadh.
This strategic move further solidifies Spark Education Platform’s position in the Saudi education market, complementing its recently announced acquisition of four schools in the Kingdom, according to a press release.
The fast-growing K-12 operator in Saudi Arabia, Spark Education Platform, aims to unlock the school’s next chapter of growth by relocating the school to a new fit-for-purpose campus, increasing the school’s capacity by more than 50%.
This acquisition aligns perfectly with Spark Education Platform’s expansion strategy in the region.
By adding Qimam El Hayat to its portfolio, Spark Education Platform strengthens its offering of high-quality international education in Saudi Arabia, leveraging its expansive experience in transforming and growing high-potential schools.
The leadership team of Qimam El Hayat will be retained as part of the transaction to leverage the team’s expertise in driving the school’s future growth.
CEO of Spark Education Platform, Ahmed Wahby, said: “This investment represents a significant milestone in our growth strategy and underscores our commitment to providing excellence in education across Saudi Arabia.”
Wahby added: “Qimam Al Hayat’s strong reputation and proven track record make it an ideal addition to our portfolio in this key segment.”
The CEO further noted: “SEP will capitalise on its experience, exceptional capabilities in educational innovation, cutting-edge technology, progressive academic approaches, comprehensive teacher professional development programs, and holistic student learning and character education to support Qimam Al Hayat’s continued growth and success.”
He concluded: “SEP is working very closely with Qimam Al Hayat’s leadership team on our ambitious plans to avail of two newly transformed school buildings, adding a capacity of 1,500 students in modern fit-for-purpose campuses. The announced transaction will grow SEP’s portfolio to eight schools with over 10,000 enrolled students spreading across Saudi Arabia, the UAE, and Bahrain.”
From his part, Chairman of Qimam El Hayat International School, Omar Sulaiman Alajaji, said: “Joining forces with SEP opens exciting new opportunities for our school community. SEP’s vision aligns perfectly with our commitment to providing quality education.”
Alajaji concluded: “We are confident that this partnership will enhance our ability to deliver exceptional educational experiences to our students and support our dedicated staff in their professional growth.”
In November 2024, EFG Hermes announced the launch of its $300 million Saudi Education Fund (SEF), aimed at establishing a world-class K-12 educational operator in Saudi Arabia. This initiative was in response to the growing student population in private schools, projected to more than double as part of Saudi Arabia's Vision 2030, highlighting the critical need for strong educational operators to meet this demand.
It is worth mentioning that EFG Hermes led ranking in MENA equity capital markets for 2024.
