Hong Kong-based school chain Nord Anglia Education Inc has acquired People Combine Education India Initiatives Ltd's schools under the Oakridge International brand. This deal will mark Nord Anglia's foray into the Indian education market.
Nord Anglia has bought five Oakridge K-12 schools for kindergarten to grade 12 students. The five schools are located in Hyderabad, Vishakhapatnam, Bengaluru and Mohali, which together have around 7,000 students.
Nord Anglia is owned by Canada Pension Plan Investment Board (CPPIB) and Baring Private Equity Asia. The Hong Kong-based group has more than 61,000 students across its schools in Asia, Europe, the Middle East and the US.
Tummala Naga Prasad, Chairman of People Combine group, has said that the deal will allow Oakbridge International schools to expand their offering.
