The shareholders of GEMS Education, one of the world’s leading operators of private schools, are mulling over their alternatives, one of which being the potential sale of their ownership part of the schools.
GEMS has been teaching students for more than 60 years, which makes it one of the oldest schools in the area.
The organization is responsible for the operation of around 60 educational institutions in North Africa and the Middle East, which are attended by more than 130,000 pupils. The group also has a presence in the academic communities of Asia, Europe, and North America.
Sunny Varkey, the founder of GEMS Education, and the private equity firm CVC Capital Partners are both looking to sell their stakes in the educational powerhouse, which could be worth up to $6 billion at its current valuation.
In 2019, CVC Capital made a purchase of a portion of GEMS Education; before that, Sunny Varkey was the only owner.
The owners are reportedly working with Morgan Stanley and Goldman Sachs Group Inc., according to a source, and large financial sponsors and sovereign wealth funds from the Middle East are now looking at the firm.
The owners are considering the possibility of selling their stake in the company via an initial public offering. It has been reported that discussions are still ongoing, and there has been no indication that either CVC Capital or Varkey would go through with the transactions.
