ALEPHYA-EDUCATION
2.9.2024 05:31:33 CEST | Business Wire | Press release
AlephYa Education (“AlephYa” or “Company”), a leading pan-GCC education provider, today announced a majority investment from TA Associates (“TA”), a leading global private equity firm, to support its next phase of growth. As part of the transaction, existing investors Gulf Investment Corporation (“GIC”) and Oman International Development and Investment Company SAOG (“Ominvest”) will retain a meaningful stake in the business, partnering closely with TA. Ashmore Investment Saudi Arabia (“Ashmore”), an investor in AlephYa since 2017, will fully exit its investment in the Company.
Founded in 2017, AlephYa has become a fast-expanding school platform committed to providing high-quality, affordable education to local and expat families across the Middle East. The Company’s network of schools offers a mix of American, British and local curricula designed to empower students with the skills to become future leaders while retaining their national heritage. Today, AlephYa owns and operates 13 schools across Saudi Arabia, UAE and Oman, with a combined enrollment of over 18,500 students.
“Since AlephYa’s founding only seven years ago, the Company has established a strong, diversified platform driven by an impressive track record of M&A and operational excellence. As experienced investors in the education space, we see great potential for AlephYa’s continued expansion, both organically and through strategic acquisitions,” said Dhiraj Poddar, Managing Director at TA. “We are thrilled to partner with the AlephYa team to achieve further scale and bring high-quality, affordable education to more communities across the GCC,” added Vishal Gupta, Director at TA.
“TA shares our commitment to academic excellence, and their investment provides a major opportunity to enhance our educational infrastructure, improve our facilities and increase our impact on new and existing students,” said Shailesh Doshi, CEO and Co-Founder of AlephYa. “We are excited to welcome TA as an investor and look forward to leveraging their deep expertise in scaling companies to reach our full potential,” added Nadeem Masud and Chandra Tiwari, Co-Founders of AlephYa.
“Since investing in the Company in 2017, it has been a privilege to significantly scale AlephYa working alongside Ominvest and GIC during a period of such transformational growth,” commented Ibrahim Assem, Head of Private Equity, MENA at Ashmore Group plc. “We wish AlephYa and its shareholders the best as they solidify its position as one of the largest school groups in the region,” added Kartik Patel, Head of Alternatives at Ashmore Investment Saudi Arabia.
“We believe AlephYa is well-positioned to sustain its rapid growth as the demand for accessible, high-quality education continues to increase across the GCC. This transaction is part of GIC’s strategy to partner with leading global firms and we look forward to the next chapter ahead in partnership with TA,” said Mohammad Al-Fares, Head of Diversified Projects Division at GIC.
“We are pleased to welcome TA as a fellow investor in AlephYa. As knowledgeable investors in the education sector, we are confident TA’s partnership will enable us to enhance AlephYa’s offering and further strengthen its footprint. This investment is aligned with Ominvest’s Purpose Statement of transforming businesses to enrich societies,” commented Badar Al Shanfari, Chief investment Officer (Private Equity) at Ominvest.
PwC Middle East served as financial advisor to TA. Al Tamimi & Company and Goodwin Procter LLP provided legal counsel to TA. Financial terms of the transaction were not disclosed.
About AlephYa Education
Established in 2017, AlephYa is a leading educational group that owns and operates schools across the GCC. AlephYa has a core focus on nurturing global citizens and empowering students with the skills to become future leaders, providing high-quality education that is affordable and accessible to every child. The platform’s approach to education is focused around the five attributes of academic excellence, community, collaboration, heritage and corporate and social responsibility. To learn more, visit www.alephyaeducation.com.
About Ashmore Investment Saudi Arabia
Based in Riyadh, Ashmore Investment Saudi Arabia was founded in 2014 and is part of Ashmore Group plc. Ashmore Group is one of the world's leading investment managers dedicated to Emerging Markets with USD 49.5 billion (as at 30 June 2024) invested for clients across the globe. These include central banks, government and corporate pension funds, institutions and high net worth individuals. Ashmore offers a number of investment themes, including External Debt, Local Currency, Corporate Debt, Blended Debt, Equities, Alternatives, Overlay/Liquidity and Multi-Asset. To learn more, visit www.ashmoregroup.com.
About Gulf Investment Corporation
Gulf Investment Corporation (GIC) is an investment company incorporated in the State of Kuwait on November 15, 1983 as a Gulf Shareholding Company. It is equally owned by the governments of the six-member states of the Gulf Cooperation Council (GCC). GIC was formed to foster economic growth, economic diversification and capital markets development across the GCC region. To learn more, visit www.gic.com.kw.
About Ominvest
Founded in 1983 and listed on the Muscat Securities Exchange, Ominvest is a leading investment company in the region with a track record of consistent profits and dividend payments to shareholders. At Ominvest, we take a global approach to investing and hold a diversified portfolio of investments in markets beyond Oman, including the GCC, Asia and other international growth markets. Our investments are diversified across insurance, banking & finance, private equity, global capital market investments, real estate and technology. www.ominvest.com
About TA
TA is a leading global private equity firm focused on scaling growth in profitable companies. Since 1968, TA has invested in more than 560 companies across its five target industries – technology, healthcare, financial services, consumer and business services. Leveraging its deep industry expertise and strategic resources, TA collaborates with management teams worldwide to help high-quality companies deliver lasting value. The firm has raised $65 billion in capital to date and has over 150 investment professionals across offices in Boston, Menlo Park, Austin, London, Mumbai and Hong Kong. For more information, visit: www.ta.com.
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