Bahrain’s Mumtalakat, Investcorp Acquire Private School Network In US

Bahraini sovereign wealth fund Mumtalakat and investment firm Investcorp announced that they have jointly acquired Nobel Learning, a private school network in the US, from Leeds Equity Partners.

The value of the transaction was not disclosed.

One of the largest private operators in the US, Nobel Learning operates a network of 176 schools across 18 states. The company also has an accredited online private school that offers college preparatory programmes to students from 55 countries worldwide.

Founded in 1984, it now has approximately 5,000 teachers and staff and 25,000 students.

Mohammed Al-Shroogi, Investcorp, president of Gulf Business, said: “Nobel Learning has a strong presence in a fragmented and growing defensive market. We believe this provides us with the ideal platform from which to apply our operational and financial expertise to enhance its educational product as well as its reach across the US and around the world.”

Mahmood Hashim Al Kooheji, CEO of Mumtalakat, added: “This acquisition fits in with Mumtalakat’s investment strategy that is focused on investing in commercially viable projects, where we look at long term partnerships to ensure we deliver growth for the benefit of all stakeholders.”

Nobel Learning provides education facilities from preschool through grade 12 and also offers supplemental educational services, including before- and after-school programmes, a summer programme and learning support programmes.

The company operates as a network of multi-branded local schools with a centralised team of educators that provide training and support.

The new partnership will help the company accelerate growth, said George Bernstein, president and CEO of Nobel Learning.

“The partnership with Investcorp can support our expansion with operational resources, real estate expertise, and access to their global network. We look forward to benefitting from their experience in accelerating the growth of their portfolio companies as we continue to invest in our curriculum, our on-ground and online school platforms and the professional development of our staff,” he said.

Investcorp is planning to increase investments in the US this year, in the services, consumption-related sectors and real estate sectors on the back of the country’s improving economy, Chief Financial Officer Rishi Kapoor told Reuters earlier this year.

Earlier this month, the company bought a portfolio of residential properties in Washington DC, Orlando, San Diego and Baltimore for around $300 million through its US-based property arm.