Spark Education Platform makes second acquisition in Saudi Arabia
Spark Education Platform (SEP), a fast-growing K-12 operator in Saudi Arabia, owned by the Saudi Education Fund (SEF), which is managed by EFG Hermes, announced entering into definitive agreements to acquire a majority stake in Qimam El Hayat International School in Riyadh.
This strategic move further solidifies SEP's position in the Saudi education market, complementing its recently announced acquisition of 4 schools in the Kingdom. SEP will aim 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%.
Established in 2005 as a nursery serving 80 students, Qimam El Hayat has experienced remarkable growth over the past two decades. In 2006, the school expanded to offer international education for grades K-4, serving 1,000 students. By 2012, the school evolved into a full K-12 educational institution with a total capacity of 3,000 students, offering the American Curriculum.
Ahmed Wahby, CEO of Spark Education Platform, said: 'We are thrilled to welcome Qimam El Hayat International School to the SEP family. This investment represents a significant milestone in our growth strategy and underscores our commitment to providing excellence in education across Saudi Arabia. Qimam Al Hayat's strong reputation and proven track record make it an ideal addition to our portfolio in this key segment.'
'This move, coupled with our recently announced acquisition of 4 additional schools in Riyadh, positions SEP as a major player in the Saudi education sector. SEP will capitalize 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. 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 8 schools with over 10,000 enrolled students spreading across Saudi Arabia, UAE, and Bahrain.' Wahby added.
Dr. Omar Sulaiman Alajaji, Chairman of Qimam El Hayat International School, expressed enthusiasm about the partnership: 'Joining forces with SEP opens exciting new opportunities for our school community. SEP's vision aligns perfectly with our commitment to providing quality education. 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.
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