MANAMA: GFH Financial Group (GFH) has signed an agreement for selling a part of its educational portfolio in the GCC to Inspired, a UK-based operator of premium schools across four continents, in a deal valued at up to $150 million.
A statement said GFH’s educational portfolio built over the past four years is valued at $300m.
GFH chief executive Hisham Al Rayes said Inspired’s network and experience will add “significant value to the schools including offering both students and teachers opportunities to take part in exchange programmes and to benefit from the latest programmes to enhance the level of education and create a unique learning environment in the region”.
Based in London, Inspired has schools in Italy, the UK, Switzerland, Belgium, South Africa, Kenya, Australia, Colombia and Peru educating more than 22,000 students.
It has rapidly grown its footprint through greenfield projects and acquisitions.
According to Inspired founder and group chairman Nadim Nsouli, the agreement marks the entry of Inspired in the region.
It is focusing on making the British School of Bahrain, the leading school in the GCC and will evaluate other school acquisitions in the region with GFH, he added.
Inspired has a senior management team consisting of top-tier educators with significant experience in opening new schools, turning around failing schools and growing and improving existing ones.