Bahrain-based Investcorp has announced it has completed the sale of Nobel Learning Communities, a provider of private education in the United States.
The investment firm said it has agreed a deal to sell to Spring Education Group, another private school operator in the US, without disclosing the terms of the transaction.
Founded in 1984, Nobel Learning operates a network of over 190 private schools across 19 states in the US. With over 25,000 students, Nobel Learning is one of the largest private school operators in North America.
Since acquiring Nobel Learning in 2015, Investcorp said it has worked closely with the company to achieve significant growth, acquiring 25 schools, opening nine greenfields, and achieving EBITDA growth of over 50 percent during its period of ownership.
“We are pleased to have helped consolidate Nobel Learning’s leadership in the industry by investing further in the schools and their programs,” said Fahad Murad, managing director at Investcorp in Bahrain.
George Bernstein, CEO of Nobel Learning Communities, added: "The Investcorp team was always supportive and yet challenged us to improve our strategy and measurements in a way that helped generate increased value."
In 2012, Investcorp acquired GL Education and later announced its sale in 2016. Additionally, in 2017, Investcorp Technology Partners acquired Impero, one of the leading providers of online student safety, classroom and school network management software in the UK.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.