EFG Hermes Provides Advisory Services for «Maarif» Acquisition of «Ibn Khaldoun Education» in Saudi Arabia

EFG Hermes advised on this complex transaction, which stands as one of the most substantial investments to date in Saudi Arabia’s private K-12 education sector.

EFG Hermes, an EFG Holding company and the leading investment bank in the Middle East and North Africa (MENA), announced today that it had advised on Maarif Education’s 100% acquisition of Ibn Khaldoun Education Company (IKEC). This transaction, currently in the post-signing stage, positions Maarif Education to become the largest K-12 education provider in Saudi Arabia by both revenue and geographical presence and marks one of the largest investments in Saudi Arabia’s education sector.

The acquisition of Ibn Khaldoun Education Company, an institution with eight campuses under the name “Ibn Khaldoun Schools” in Riyadh, serving more than 13,000 students, will more than double Maarif’s student enrollments to over 36,000 students across the Kingdom. This transaction reflects Maarif’s strategic commitment to expanding its footprint and offering high-quality educational experiences to students nationwide, which is in line with Saudi Arabia’s Vision 2030, which emphasizes quality education as a cornerstone of sustainable development.

Maarif Education, which has a legacy of over 50 years in Saudi Arabia’s K-12 sector, is already recognized for its strong educational infrastructure and extensive curriculum offerings that serve a broad demographic. The addition of Ibn Khaldoun Schools enhances Maarif’s reach and resources, positioning it as a national leader with the scale and capabilities required to serve an expanding student population in the Kingdom.

Karim Meleka, Co-Head of Investment Banking at EFG Hermes, said, “We are pleased to have advised on Maarif’s landmark acquisition of Ibn Khaldoun Schools. Upon completion, this acquisition will position Maarif as the leading private K-12 education provider in the Kingdom, advancing its strategy to expand high-quality private education in alignment with the Kingdom’s vision. This transaction highlights our commitment to delivering expertise and trusted advisory, making us the partner of choice for transformative education deals across the region. This transaction marks our 3rd advisory mandate in the sector this year, having earlier executed the USD 66.9 million ABB on Taaleem Education and the USD 514.6 million IPO of Alef Education on the ADX.”

EFG Hermes served as Maarif’s sole financial advisor on the transaction.