Al Khayyat, Rasmala Investments and RHT Partners have acquired 13 per cent stake in Taaleem, the new brand identity of Madaares, a private joint stock company specialising in enhancing quality and standards in the regional education sector.
"Having noted with increasing interest the exponential growth in UAE's education sector, we decided to increase our stakes in this sector," said Amer Al Khayyat, Managing Director of Al Khayyat Investments. "The vibrant energy displayed by Taaleem in introducing world-class education and quality learning tools as well as the firm's speedy growth prompted us to acquire this stake along Rasmala Investments and RHT," he added.
Al Khayyat said: "This deal comes at a time where the UAE as well as the broader GCC is witnessing major transformation in its education landscape in line with its booming private sectors. The regional governments have encouraged private sector involvement in education, and Taaleem in particular plays a pivotal role in enhancing the industry in the UAE, which is seeing exponential growth. It is a matter of pride to be part of this initiative."
RHT Partners, the private equity firm that brings together high-calibre investment management professionals and prominent financial backers has co-ordinated this transaction and will sit alongside Amer Al Khayyat whom it has nominated for a seat on Taaleem board.
Amer Al Khayyat has personally taken up 13 per cent stake in Taaleem along with Rasmala Investments and following this acquisition, Al Khayyat Investments own a combined 25 per cent stake in Taaleem.
Tamer Bazzari of Partner for Investment Banking at Rasmala Investments, said: "We at Rasmala are very pleased to be a part of the growth story of Taaleem. We have been watching the growth of the company over the last two years and have been very impressed with the strong management team and board's vision for improving the quality of education in the region."