Spark Education Platform is going to buy most of the shares in Qimam El Hayat International School in Riyadh

Spark Education Platform is going to buy most of the shares in Qimam El Hayat International School in Riyadh

Spark Education Platform (SEP), based in Saudi Arabia, has confirmed that it has signed agreements to buy a majority stake in Qimam El Hayat International School in Riyadh, according to a company statement released on Wednesday.

Acquisition Details

SEP said the purchase helps strengthen its position in the Saudi education market, adding to its recent purchase of four schools in the country. It supports SEP’s growth plan and improves its ability to offer high-quality international education in Saudi Arabia.

The plan is to help the school grow by moving it to a new, larger campus, increasing its capacity by more than 50%.

The leadership team of Qimam El Hayat will stay in place to help guide the school’s future growth.

Ahmed Wahby, CEO of SEP, said that this acquisition, along with the recent purchase of four schools in Riyadh, makes SEP an important player in Saudi Arabia’s education sector. He added that SEP is working closely with Qimam El Hayat’s leaders to turn two school buildings into new, bigger campuses, adding space for 1,500 more students.

Wahby also mentioned that this deal will expand SEP’s network to eight schools, serving more than 10,000 students in Saudi Arabia, UAE, and Bahrain.

Qimam El Hayat started in 2005 as a small nursery with 80 students. In 2006, it began offering international education for grades K-4 and grew to 1,000 students. By 2012, it became a full K-12 school with 3,000 students, offering the American Curriculum.

Surprising Fact

SEP is owned by the Saudi Education Fund (SEF), which is managed by EFG Hermes.

Recent Investments

In November, EFG Hermes launched the $300 million Saudi Education Fund (SEF) to create top-quality K-12 schools in Saudi Arabia. This project is in response to the increasing number of students in private schools, which is expected to grow significantly under Saudi Arabia’s Vision 2030.

EFG also announced that the fund has made agreements with GFH Financial Group, a major GCC financial group, to buy seven international schools under the Britus Education brand. These schools are owned by private equity funds managed by GFH.

Published: 30th January 2025

For more article like this please follow our social media Twitter, Linkedin & Instagram

Also Read:

TeamSec secures $7.6M funding from Rasmal & Deniz Ventures
Al Rajhi Bank’s 2024 profit rises 19% to $5.3B, boosting value
Saudi National Bank’s profit rises 6% to $5.7B in 2024