EFG Hermes-backed K-12 operator Spark Education Platform (SEP) inked definitive agreements to acquire a majority stake in Riyadh’s Qimam El Hayat International School, it said in statement (pdf). There’s no publicly available information about the transaction size.

Refresher: SEP is backed by the USD 300 mn Saudi Education Fund (SEF), which was launched in November 2024 by our friends at EFG Hermes. SEF plans to deploy its capital over the next three years, with a primary focus on the Kingdom, alongside its ventures in the UAE and Bahrain. The fund previously acquired seven schools under the Britus Education brand, four of which are in the Kingdom.

The rationale: “This move, coupled with our recently announced acquisition of four additional schools in Riyadh, positions SEP as a major player in the Saudi education sector,” SEP CEO Ahmed Wahby said. The transaction will increase “SEP’s portfolio to eight schools with over 10k enrolled students spreading across KSA, UAE, and Bahrain,” he added. The fund was launched to address the rising demand for private education, driven by a rapidly expanding student population expected to more than double under Saudi Arabia's Vision 2030.

What’s next? The move includes relocating the school to a new fit-for-purpose campus and boosting the K-12 institution’s student-capacity by 50% to 4.5k with the addition of launching two new buildings.

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