Amanat acquires Middlesex University Dubai for $100m
(8/9/2018 7:21:00 AM)
Amanat Holdings, a leading healthcare and education investment company in the GCC, said today that it has completed the acquisition of 100% stake in Middlesex University Dubai for a consideration of Dh369 million ($100 million) with an additional potential earn-out of up to Dh73 million.
Established in 2005, Middlesex University Dubai is the first overseas campus of the internationally renowned Middlesex University in London.
Middlesex University Dubai has a diverse student body of approximately 3,000 students from over 100 nationalities. It is licensed and regulated by the Dubai Government’s Knowledge and Human Development Authority (KHDA).
Middlesex University Dubai offers foundation, undergraduate and postgraduate degree programs in Business, Law, Art and Design, Science and Technology, Health and Education, and Media. Using the same validation and monitoring system as the London campus, Middlesex University Dubai provides students with the opportunity to obtain a top-quality UK degree while living in the heart of Dubai, one of the most exciting and vibrant cities in the world.
With the completion of this investment, Amanat has constructed a diverse portfolio of leading and differentiated businesses. The portfolio today includes three education assets in the UAE, two healthcare assets in Saudi Arabia and another real estate investment.
Hamad Abdulla Al Shamsi, chairman of Amanat, said: “The acquisition of Middlesex University Dubai represents another milestone for Amanat, marking our sixth portfolio company. Having successfully acquired 100% of the University and deployed 73% of our capital, Amanat demonstrates its commitment to a more active investment strategy.”
Al Shamsi further added: “We are proud to be associated with such an excellent and well-reputed international leader in higher education. We are confident of the value we can bring to Middlesex University Dubai, helping it build on its historic success of providing students with an enhanced learning experience and improved career prospects in an increasingly competitive world.”
Dr Shamsheer Vayalil, vice chairman and managing director of Amanat, said: “Middlesex University Dubai is an exciting and strategic investment for Amanat, enabling us to continue supporting education and healthcare services in the region. Middlesex University Dubai is Amanat’s third investment in 2018, with Dh1.1 billion of capital deployed so far this year. Following Amanat’s investment in Abu Dhabi University Holding Company, our higher education portfolio extends across the emirates of Dubai and Abu Dhabi and covers a wide range of programs.”
Dr Vayalil continued: “We look forward to working with Middlesex University Dubai to drive further growth and deliver value for all stakeholders. The esteemed university has demonstrated its ability to outperform the rapidly growing higher education market and is a leading contributor in attracting transnational students to the United Arab Emirates from across the world.”
Amanat’s investment strategy is focused on significant minority or majority stakes in high-quality, high-growth potential companies exclusively in the healthcare and education sectors across the GCC and beyond, it said.