Michellini says Apollo has upsize existing investment in GSG global expansion plan
Indian-origin Global School Group of Singapore (GSG) aims to spend US$1.5-US$2 billion over the next few years on mergers and acquisition of Ivy League K12 schools, backed by doubling of capital commitment by its long-term investor New York-listed Apollo Global Management, Inc (NYSE: APO).
Apollo is doubling its initially provided long-term funding of 2021, enabling GSG to ramp up its investments over US$650 million, and to complete initial transactions in the European and UK markets, whilst consolidating its existing presence in Asia and the Middle East, announced GSG parent group, the Indian-origin Global Schools Foundation (GSF).
“The expectation is to further deploy US$1.5 to US$2 billion over the next few years, accelerating the company’s global expansion through merger and acquisition of leading, super-premium, and Ivy League K12 schools,” said GSF which has 40,000 students across 40 campuses in 11 countries in the UK, Asia and the Middle East.
Mathew Michellini, Partner & Head of Apollo Asia Pacific, said, “he was pleased to share that funds within Apollo’s Hybrid Value strategy have committed to upsize their existing investment in Singapore-based education company GSG to help accelerate the company’s global expansion”.
“We are delighted to upsize our investment in Global Schools Group,” added Gaurav Pant, Partner at Apollo Singapore.
“And Apollo is truly fortunate to play our part in this transformational journey,” Pant said on 8 July 2023.
“GSG has shown tremendous leadership and vision in executing an Asia led global education platform. The team is passionate about creating and delivering the best learning outcomes for all our students wherever they are globally,” he said.
GSF Chairman Atul Temurnikar said, “GSF aspires to become one of the top 5 leading K12 platforms in the world. Apollo’s Hybrid Value business was a perfect capital solution for our long-term needs.”
A portion of the capital is committed to The Global Village in Singapore, 600,000 sq ft of built-to-suit futuristic educational space accommodating two super-advanced international schools – the Global Indian International School, and One World International School.
GSG’s strengths lie in using proprietary learning technology incorporating data analytics and artificial intelligence to accelerate students’ learning outcomes.
Schools on GSG’s platform can expect to benefit from its key learning technologies and innovation capabilities to enhance market position and product development.
In the past three years, GSG has completed over 25 acquisitions, enrolling over 20,000 students across Asia and the Middle East.
Recent transactions include the 100% acquisition of Dwight School Seoul, South Korea, Glendale Academy Hyderabad, Silveroaks International School, India, Regent International Schools, Malaysia, CISM, Philippines, Harrods International Academy, Cambodia, and Vikaasa Schools, Madurai, India.
In 2021, GSG was recognised as the “World’s Most Awarded Network of Schools” by the UK-based World Book of Records, having received over 500 awards for Innovation, Green Initiatives, Performance Excellence, and Business Excellence.
Founded in 2002, the Singapore-headquartered GSF is a community-oriented education institution whose mission is to cultivate and nurture young minds into global leaders of the future. Fiinews.com
