According to our partner site EducationInvestor, London-based private equity firm Permira is about to acquire a 40% stake in private school chain GEMS Education.
Permira just sold Renaissance Learning which they had acquired for $440 million in 2011 to private equity firm Hellman & Friedman for $1.1 billion.
According to EducationInvestor the deal could be among the biggest in the private school space to date, with GEMS Education valued between $1.5 billion and $2 billion. GEMS Education runs 60 private schools in 15 countries and is owned by the Varkey family.
In an interview with re/code on the acquisition by Hellman & Friedman Renaissance Learning’s CEO Jack Lynch stated that Permira has no strategic interest in the K-12 space.
GEMS Education and the Varkey GEMS Foundation are also organizers of the annual Global Education and Skills Forum in Dubai which will take place this weekend from March 15th to 17th.
- Exclusive: Permira closing in on Gems Education stake | EducationInvestor
- HEDLINE: Renaissance Learning acquired for $1.1 billion by Hellman & Friedman | EDUKWEST