Laureate Education Agrees To Sell University In Morocco To KMR Holding
Laureate Education, Inc., the world’s largest global network of higher education institutions, and KMR Holding Pedagogique, the leading state-recognized multi-disciplinary private higher education platform in Francophone Africa, have signed an agreement for the sale of Laureate’s institution in Morocco – Universite Internationale de Casablanca (UIC).
UIC, which opened its doors in 2010, is located in the economic and education hub of Morocco, and is the first and only comprehensive private university in Casablanca recognized by the State. UIC’s program offerings include undergraduate, graduate, and executive education programs in Business, Engineering and Health.
With over 7,500 students across Marrakech, Casablanca, and Dakar, KMR delivers programs in medicine, health sciences, engineering, management, and hospitality, among others. Development Partners International (DPI), a leading Pan-African private equity firm, with US$1.1 billion of assets under management is a principal shareholder of KMR Holding Pedagogique.
Commenting on the transaction, Eilif Serck-Hanssen, Chief Executive Officer of Laureate, said, “UIC was established in 2010, and within a span of 7 years was recognized by the State for its exceptional commitment to academic quality. We believe UIC will be well-positioned under KMR Holding Pedagogique, which has a strong presence in higher education in Francophone Africa, to continue delivering strong outcomes, internationality, and high student satisfaction.”
Commenting on the transaction, Mohamed Kabbadj, CEO of KMR, said, “KMR Holding Pedagogique is committed to building on the strong legacy of UIC, which is distinct in the market for creating industry-aligned programs which maximize student employability, with an emphasis on internationality and project-based learning. UIC has grown from strength to strength since its inception and we believe UIC’s offerings will be complemented through the network of KMR Holding Pedagogique across Francophone Africa, Europe, and North America.”
Macquarie Capital acted as exclusive financial advisor to Laureate Education, Inc., while Baker McKenzie acted as legal advisor. Naciri, Allen & Overy acted as legal advisor to KMR Holding Pedagogique, while Afaya Partners acted as strategic advisor.
About Laureate Education, Inc.
Laureate Education, Inc. is the largest global network of degree-granting higher education institutions, with more than one million students enrolled across nearly 70 institutions in 23 countries at campuses and online. Laureate offers high-quality undergraduate, graduate, and specialized degree programs in a wide range of academic disciplines that provide attractive employment prospects. Laureate believes that when our students succeed, countries prosper, and societies benefit.
About KMR Holding Pedagogique
KMR Holding Pedagogique is the leading state-recognized multi-disciplinary private higher education platform in Francophone Africa, with now over 7,500 students across state of the art campuses in Casablanca, Marrakech, and Dakar, with plans to expand to other countries. The group delivers affordable quality higher education in medicine, health sciences, engineering, management, hospitality, art and culture, providing international exposure to African students through access to a network of 240+ schools across the world and degrees with multi- campus curricula that can include courses in North Africa, sub-Saharan Africa, and Europe. KMR ensures best-in-class employability rates through programs tailored to both country and employer needs with focus on growth industries such as health, hospitality, and manufacturing and logistics (e.g., double diplomas in engineering & management), specialized degrees in emerging regional industries (e.g., aeronautical engineering), as well as personalized career services and mentoring.
About Development Partners International
Development Partners International (“DPI”) is a leading pan-African private equity firm with $1.1 billion under management. DPI was founded in 2007 by African investment pioneers Miles Morland and Runa Alam, and has a team of over 30 professionals with a combined investment experience of over 100 years. DPI currently advises two pan-African private equity funds, African Development Partners I (“ADP I”) and African Development Partners II (“ADP II”), both with an investment focus targeting companies benefiting from the fast-growing emerging middle class. In addition, DPI has a proven track record of integrating ESG considerations into the investment process and is a signatory to the UN Principles for Responsible Investment (UN PRI). DPI was named “Sub-Saharan Africa House of the Year” at the 2017 Private Equity Africa Awards. Source: Bloomberg