- SEDCO Holding to serve as institutional partner and active direct investor in Andalus to support the goals of the Saudi Vision 2030
- Investment in education is a significant contributor to transforming the economy from a single source of income to a knowledge-based economy built on skills
SEDCO Holding has signed a partnership agreement with Andalus Education Company, through which Yusr International School (fully owned by SEDCO Holding) will be integrated into the Andalus Education network. As a result, SEDCO Holding becomes a stakeholder in Andalus Education Company. The agreement was signed on Tuesday, May 23, 2023, in the presence of representatives from both companies.
This partnership is expected to unlock significant benefits for all concerned parties. Andalus Education Company's acquisition of Yusr will add high-quality international school assets valued at over SAR 200 million to the Andalus school network. It increases the school network’s capacity to accommodate 20,000 plus students while raising current student numbers to 15,000.
Meanwhile, Yusr schools will benefit from the additional resources and expertise of an education provider with a track record stretching back to 1984. Andalus Education Company is embarking on a growth trajectory that will unlock new opportunities and benefits for educators, learners and parents. Teachers, staff and learners will benefit from an environment prioritizing well-being and attainment in modern facilities equipped to support and develop student learning.
For Andalus, SEDCO Holding will serve as an institutional partner that will offer the expertise, resources and strategic expertise to ready the brand for a potential IPO in the medium term.
The agreement emphasizes SEDCO Holding’s role as an active direct investor in education — a sector earmarked as crucial to sustainable talent and skills development by the Saudi Vision 2030. SEDCO Holding aims to expand its educational portfolio in line with a commitment to advancing partnerships in priority sectors for the national economy.
Commenting on this agreement, Engineer Rayyan Nagadi, CEO of SEDCO Holding, said, “We are pleased to partner with Andalus Education Company, and we believe that the integration of schools into the Andalus platform will help empower a new generation of young minds, in line with the Kingdom's strategy of delivering education and nurturing talent to the highest international standards. I would like to express my gratitude to Yusr’s employees and teachers for their dedication and assure staff, parents and learners that this step will have a positive impact on their future.
He added, "At SEDCO Holding, we are committed to forming effective partnerships through strategic investments in vital sectors that support the national economy. Education is a focus for us, helping us support the Vision 2030 target of encouraging private sector investment in education and raising the participation rate from 13% to 25%. We are looking forward to playing the role of institutional partner and active direct investor for Andalus, helping the network take its next steps in growth and development.”
Engineer Yousef Elkhereiji, CEO of Andalus Education Company, said, "This partnership adds to our commitment to education and meeting the aspirations of the Kingdom’s leadership, which emphasizes the advancement of education as a key pillar of Vision 2030. The acquisition of Yusr is part of our aim to expand across Saudi Arabia to meet growth opportunities in education. Yusr’s schools, with their international academic curriculum and excellent infrastructure, will be added to the Andalus Education system, which currently includes nine educational complexes in seven cities and over 13,000 students in the current academic year."
Investment in education is a significant contributor to transforming the economy from a single source of income to a knowledge-based economy built on skills. Accordingly, Andalus Education Company and SEDCO Holding are committed to cementing their partnership to advance the education system to build human capital and nurture future talent.