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Abraaj bets on expanding out-of-school education in Thailand with KPN deal

27 May 2014

Thailand flagMiddle East buyout major Abraaj Group has bought a stake in Thai out-of-school education business KPN Academy.

The 14-year-old business has grown from a music education provider to a multi-educational group with more than 100 centres across Thailand.

Abraaj’s investment is its sixth from its current Southeast Asia Fund, and its 29th in the region since 2005.

The firm said that the rising middle class across global growth markets was increasingly looking towards out-of-school education to provide additional services for their families.

In Thailand alone the number of students enrolled in out-of-school education is estimated to have increased by 39 per cent in the past five years.

Abraaj partner and Southeast Asia head Omar Lodhi said, “Demand for affordable, quality out-of-school education is growing rapidly across Southeast Asia.

“KPN Academy is a very exciting business in an important industry and aligns with our proven strategy of seeking strong and attractive companies in high-growth markets.

“We are delighted to be part of its journey as we focus on the next stage of development, by increasing KPN Academy’s presence in Thailand, the region and beyond.”

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