SANAM Group Holding Company Acquires Modern Global International Schools in Saudi Arabia
Strategic investment strengthens SANAM's presence in the Kingdom's education sector and supports expansion across Gulf markets
SANAM Group Holding Company announced the acquisition of a 65% stake in Modern Global International Schools (MGIS) in the Kingdom of Saudi Arabia, as part of its investment expansion strategy in the education sector across GCC countries.
The announcement was made during the closing ceremony of the acquisition through First Educational Holding Company, a subsidiary of one of SANAM's affiliate companies. The transaction involved acquiring the owner of Modern Global International Schools, Modern MENA for Education, from the Bloom Education Fund, managed by Bloom Investment Saudi Arabia.
Commenting on the occasion, Dr. Sulaiman Tariq Al-Abduljader, Vice Chairman and CEO of SANAM Group Holding Company, said: "This acquisition represents the first major step in SANAM's strategy to expand across vital sectors in the Kingdom of Saudi Arabia. It reflects our commitment to sustainable growth and strengthening our position through high-impact investments that meet the highest quality standards."
From his side, Eng. Abdullah Al-Roshoudd, CEO and Managing Director of Bloom Investment Saudi Arabia, stated: "We are pleased to have achieved this successful exit, which marks an important milestone in the journey of private equity funds at Bloom Investment."
As part of the transaction, SANAM Group simultaneously signed an agreement with its partners at MENA for Education and Human Resources, an affiliate of the Abdulmohsen Al-Hokair Group, along with Josoor Contracting Company and the American company Global Education Excellence (GEE), to establish a joint-stock company that will support and accelerate the partners' expansion plans in the Kingdom's education sector.
Modern Global International Schools is considered one of the leading educational institutions in Riyadh. MGIS operates two established campuses in Qurtuba and Digital City, serving over 900 students from more than 40 nationalities. The school is distinguished by its accredited IB Primary Years Programme (IB PYP) and its strong academic reputation.
About SANAM Group Holding Company
Founded in Kuwait in 1982 and listed on Boursa Kuwait in 2004, SANAM Group Holding Company is a diversified holding company with investments across education, healthcare, industry, and services.
About Bloom Investment Saudi Arabia
Established in 2008, Bloom Investment Saudi Arabia provides a full suite of investment services including wealth management, corporate finance, financial advisory, and asset management. The company manages private equity funds across key sectors such as real estate, healthcare, and financing, with total assets under management exceeding SAR 20 billion.
About Abdulmohsen Al-Hokair Group
The Abdulmohsen Al-Hokair Group is one of the Kingdom's leading family investment groups, with more than 50 years of experience in developing and managing projects across education, entertainment, hospitality, and retail.