In line with its strategy, China Maple Leaf Educational Systems Ltd. today announced the proposed acquisition of Canadian International School Pte. Ltd. (“CIS”), a leading premium international school in Singapore, for SGD680 million.
CIS has a 30-year operating history in Singapore with approximately 3,500 students enrolled across its 2 campuses. It is one of the largest for-profit premium international schools in Singapore.
This acquisition extends the footprint of MLES into the attractive international school sector in Singapore, a leading global education hub, and brings a top-tier brand name into MLES’s portfolio of schools. Best practices will be shared from MLES and CIS across the whole group.
Chairman of MLES, Dr Sherman Jen, said, “The acquisition of CIS is an excellent fit with our strategy to grow internationally and gives MLES a base in the attractive international school sector in Singapore. Following the acquisition, overseas schools will generate approximately 30% of MLES’s total revenue. The combination of CIS and MLESwill enhance the competitive position of the Group in the ASEAN region, and support MLES’s long-term growth and business prospects. In addition, MLES is developing its third campus at Hillside, with a capacity for 800 students. We are excited to welcome CIS to our growing family of schools.”
Upon completion of the transaction, CIS will add a capacity of 4,100 students to MLES’s current total capacity of approximately 67,200 students (inclusive of Kingsley Edugroup), bringing the enlarged group total student capacity to over 71,300, an increase of 6%. The total student enrolment will increase by approximately 3,500 to 47,000, an increase of 8% (inclusive of Kingsley Edugroup).