Bahrain Mumtalakat Holding Company, the country’s sovereign wealth fund, has sold its stake in Nobel Learning Communities, one of the leading providers of private education in the US (from pre-school to high school).
Nobel Learning Communities has a network of more than 190 private schools across the US, catering to the needs of children of all ages.
As one of the largest private school operators in the country, the company also operates Laurel Springs School, an accredited private online school, offering challenging college preparatory programmes for students globally.
Mumtalakat acquired Nobel Learning Communities in 2015 in partnership with Investcorp, an alternative investments manager, said a statement from the kingdom's wealth fund.
Throughout this period, the company’s network of schools has expanded with approximately 34 new schools added through acquisitions and greenfield development. Mumtalakat sold its stake alongside Investcorp as part of the original investment plan, it added.
On the strategic exit, Mumtalakat CEO Mahmood H Alkooheji said: "Nobel Learning has grown considerably since our investment three years ago, answering the needs of more people with their quality educational programmes."
"On average, each additional year of education a child receives increases their adult earnings by about 10 per cent," noted Alkooheji.
Mumtalakat made its first investment in the education sector in 2009 when the sovereign wealth fund established an aviation academy catering to the needs of the aviation market in the Gulf region.
This was followed by investments in the regional and global education sector through acquisitions in companies providing private education.
"Our investment in Nobel Learning reflects our optimistic outlook on the US market. While we focus on investing in sectors that address economic needs and partner with companies with robust management teams and a proven track record of growth, we are committed to continued investments in the education sector and have built a strong team of industry experts to support the growth of our portfolio companies," remarked Alkooheji.
"We continue to seek investments in different education subsectors, including private pre-K and K-12 education, vocational training, and educational support software," he added.-TradeArabia News Service