(MENAFN Press) United Education Company announced today the acquisition of an 82% equity interest in Al Rayan Holding from a consortium of sellers led by Global Capital Management, Global Investment House's alternative asset management group.
Al Rayan Holding was established in 2006 by Global Capital Management with the aim of consolidatingK-12 schools in Kuwait into a single platform. The company has over the yearssuccessfully grown into Kuwait's largest K-12 education company operating six schools with over 10,500 students, including one of the leading Indian and Pakistani schools across the country.
Established in2003, United Education Company K.S.C.C. ("UEC") is Kuwait's leading higher education company. UEC has embarked on an expansion strategy to create one of the leading education groups in the GCC region. Mr. Meshal Ali, Vice Chairman and Managing Director, said "Al Rayan Holding Company is part of our strategy to enter the K-12 market in Kuwait, which we expect to experience significant growth going forward. We see Al Rayan Holding Company as a quality platform to help us become a key player in this field."
Mr. Rajiv Nakani, Managing Partner at Global Capital Management said "Al Rayan Holding Company is a successful case study of a company we helped establish, grow and then position for a successful sale despite some of the most challenging years we have ever seen in the Middle East. We have no doubt that United Education Company will further nurture and grow this company to its full potential."
KIPCO Asset Management Company K.S.C.C. ("KAMCO"), acted as financial adviser to United Education Company KAMCO's Acting Chief Executive Officer, Mr. Faisal Sarkhou commented, "We would like to congratulate UEC, our client, on the acquisition of a majority stake in Al Rayan Holding Company.
This strategic acquisition further demonstrates KAMCO's inherent advisory capabilities as one of the leading investment firms in Kuwait and its commitment towards its clients in offering a comprehensive range of investment banking and asset management services. The KAMCO team enjoys a unique understanding of the market and in-depth knowledge of industry trends and regulatory issues facing the modern enterprise in Kuwait and the region. KAMCO as a part of its investment banking platform, provides value added services related to mergers & acquisitions, restructuring, and fund raising through debt and equity instruments."
GulfMerger acted as financial adviser to the selling consortium led by Global Capital Management. Mr. Yann Pavie, Managing Partner at GulfMerger, said "this deal is clear evidence that the education sectorhas been able to withstand the more challenging environment in the region and is ripe for consolidation. We are pleased to have advised on the largest education M&A deal in the GCC region and more importantly on a successful exit for a leading private equity firm in the region."