The ADvTECH Group (ADvTECH) announced today that it has concluded an agreement to acquire a 100% interest in Flipper International School in Addis Ababa, Ethiopia, further reinforcing its position as a leading provider of private education on the African continent.
The acquisition will add five schools and an additional 3 000 students to the Group’s international portfolio in the fifth fastest growing city on the continent. The acquisition was internally funded by ADvTECH.
Commenting on the acquisition, ADvTECH CEO, Geoff Whyte said: “We are delighted to welcome Flipper International School to the ADvTECH Group as we expand our presence across Africa and further cement our status as the leaders in teaching and learning on the continent.”
Well-known for its academic excellence, Flipper International School was founded in 1998 by Mrs Menna Selamu Bekele and Mrs Serkaddis Seifu Yeteshawork. In 2018, the founders sold an 85% stake to Tana Africa Capital and the Saham Group.
Sharing their thoughts on the acquisition Menna and Serkaddis said: “We are incredibly proud of what we have built at Flipper International School. Our mission has always been to be a beacon of academic excellence in the region. We are confident that ADvTECH’s expertise and resources will help the school further enhance the educational experience and growth opportunities for students and staff.”
Flipper International School’s five campuses are located in Beklobet in the centre of Addis Ababa and in Summit to the east of the city. Total current capacity of the five locations amounts to more than 3 500 students.
Addis Ababa is benefitting from the rapid urbanisation in Ethiopia, leading to increased demand for high-quality education.
“As a business, ADvTECH is in a unique position to make a truly meaningful difference to people’s lives and futures. Flipper International School has always been a beacon of academic excellence in the region. We look forward, therefore, to applying our resources and expertise to this school and taking it to even greater heights in the years to come,” concluded Whyte.