Investcorp announced that it has agreed to acquire West Chester, PA, based  Nobel Learning for an as yet undisclosed amount. This is the second major U.S. purchase by the Bahrain listed alternative investment fund, after it bought a portfolio of residential properties for around $300 million on March 17, 2015. The purchase is being made in partnership with Mumtakalat, the investment arm of the Bahrain government.

Nobel learning was founded in 1984 and operates a network of 176 schools located in 18 states as well as an accredited online private school. The online learning service provides preparatory programs for students from over 55 countries worldwide. With around 5,000 teachers and over 25,000 students, Nobel Learning is one of the biggest private educational operators in the U.S.

“We are pleased to have concluded another transaction that is aligned with Investcorp’s strategy of investing in companies that have the potential to grow.” stated Mohammed Al-Shroogi, Investcorp’s President of Gulf Business. “We believe this provides us with the ideal platform to from which to apply our operational and financial expertise to enhance its educational product.”

The acquisition should be of great benefit to Nobel Learning and George Bernstein, President and Chief Executive Officer of Nobel Learning praised the deal by saying “We are extremely pleased to partner with Investcorp, which can support our expansion with operational resources, real estate expertise, and access to their global network.”

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