18 June 2024
A consortium led by Brookfield Asset Management has entered into a binding agreement to acquire a majority stake in GEMS Education, in partnership with Varkey Group. GEMS Education, based in Dubai, is a prominent private K-12 education provider, educating 140,000 students across 49 schools in the UAE, Qatar, and Egypt.
GEMS Education offers a variety of international school curricula catering to multiple price points. In addition to academic offerings, the institution provides a range of adjacent services, including school transportation and after-school activities.
The school group has also secured financial commitments from a consortium of UAE banks. This financing will not only support the acquisition but also fund the repayment of GEMS Education’s existing financing agreements.
The acquisition of GEMS Education by a Brookfield-led consortium signifies a strong vote of confidence in the international school market, which has been experiencing steady growth. As one of the largest private K-12 education providers in the region, GEMS Education’s expansion under new ownership could further stimulate market growth and set a precedent for future investments. The move underscores the increasing demand for quality education and the potential for significant returns in the international school sector.
