RMB Corvest invests in South African higher education firm Inscape
Private equity firm RMB Corvest has struck the fourth deal of the year and the first solo transaction by picking up a 49% stake in South African higher education firm Inscape Education Group.
“With education remaining a key growth area, it’s the ideal time for Inscape to build on the platform it has already established in the market,” said RMB Corvest director Martin Coetzee. “We will all be working to ensure it reaches its full potential as an independent business.”
RMB Corvest didn’t disclose terms of the transaction.
For RMB Corvest, a part of FirstRand Bank, the transaction expands its portfolio. It has coinvested in three companies since January. These are Andru Mining (along with Lereko Metier), ITAS (with Imbani PE) and Adcorp (with Agile Capital).
Inscape CEO Helen Buhrs said increasing demand for quality education services for South Africans that are relevant and future-fit means the business is primed for continued growth.
The company says it would look to expand and extend its offerings organically and through acquisitions. This is in line with the South African government’s Draft National Youth Policy for 2020-2030 that aims to get more young people into higher education institutions such as colleges and universities.
Established in 1981, Inscape is a private higher education institution with five campuses in three provinces: Gauteng, KwaZulu Natal and the Western Cape. It offers 10 accredited contact learning programmes and three accredited distance learning programmes with specialisations in design, communication and the ‘built environment’.
Inscape’s courses range from undergraduate higher certificates to postgraduate degrees. Additionally, it provides short courses offered primarily through e-learning. Inscape also has a sister company in Dubai that operates as a registered training facility in the Dubai Design District.
Source: Capital Quest