Mumtalakat Sells its Stake in US Private Education Provider “Nobel Learning”
2018-08-07 - 9:23 p
Bahrain Mirror: Bahrain Mumtalakat Holding Company (Mumtalakat), the country's sovereign wealth fund, has sold its stake in Nobel Learning Communities, one of the leading providers of private education in the United States (from pre-school to high school).
‘Nobel Learning has grown considerably since our investment three years ago. On average, each additional year of education a child receives increases their adult earnings by about 10%,' explained Mahmood Al-Kooheji, CEO of Mumtalakat. However, he didn't say the reason behind this step, especially amid the growth he talked about.
Mumtalakat acquired Nobel Learning Communities in 2015 in partnership with Investcorp, an alternative investments manager. 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.
Nobel Learning Communities has a network of more than 190 private schools across the United States, 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 program for students globally.