Bright Scholar Makes Aggressive Overseas Application
After the first taste of acquisition of UK schools through taking ownership of Bournemouth Collegiate School, the Chinese real estate backend education group Bright Scholar Education Group (NYSE: BEDU) announced its acquisition of two more UK schools valued at £38m. The two schools are St. Michael’s School (1923, Wales) and Bosworth Independent College (1977, Northampton). The acquisition is subject to compliance reviews and the transaction is expected to be completed by Sept this year. BEDU’s other major acquisition is the £150m (US$188m) purchase of CATS college, a UK original built in the ’50s but now with a network in UK, China and North America, from Cambridge Education Group and Bridgepoint. BEDU has raised over £300m since its NYSE listing in 2017. With 7 international schools, 10 bilingual schools, as well as 15 training schools and 30+kindergartens in China and the newly added international frontage, the group now has up to 45,000 students enrolled.