China Chunlai, a leading private higher education group in China, filed the transaction announcement with the Hong Kong Exchanges and Clearing Limited this week, with the acquisition from Kaplan to go through once certain completion conditions have been met.
It marks the group’s first Irish venture, as the country becomes a rising destination for international students due to its relative value for money, place in the EU and link between academia and industry.
Junyu Hou, China Chunlai’s executive director, said that the acquisition was an “important long-term investment” for the group, representing “a platform for future growth, innovation and international collaboration”.
“This acquisition reflects our recognition of DBS’s strong reputation, academic quality, and long history of successfully delivering career-focused education,” Hou continued.
Since its establishment in 2004, China Chunlia has grown its portfolio to four colleges in Henan Province, two colleges in Hubei Province, and one college in Jiangsu Province.
This acquisition reflects our recognition of DBS’s strong reputation, academic quality, and long history of successfully delivering career-focused education
Junyu Hou, China Chunlai
The institutions are all known for their emphasis on links between education and industry and strong school-enterprise collaborations.
Meanwhile, DBS – located in the heart of Ireland’s capital city – serves around 9,000 students every year, with a range of full- and part-time undergraduate, postgraduate, evening degree and professional programs.
Since being founded in 1975, it has forged partnerships with over 100 international colleges and universities in Europe, the US and Asia, welcoming students from more than 80 countries.
DBS president Tim Bicknell said that Kaplan had helped the institution build a global reputation for “high academic standards and supportive student-focused culture”.
“We’re excited about this next chapter alongside China Chunlai. Together, we will build on these strong foundations, enhancing academic excellence and creating even greater opportunities for our students, staff and wider academic community through the outstanding experience they have come to expect from DBS,” he continued.
Kaplan CEO Andy Rosen said the company believed China Chunlai would be a “strong long-term steward for DBS” and help build on it’s reputation for academic quality.
“This is a positive step for DBS’s students and staff, for China Chunlai, and for Kaplan and our shareholders,” he said.
It follows the sale of Kaplan’s languages division earlier this year to private equity firm Inspirit Capital. The company recently revealed its decision to rebrand to Positively Languages later this year.
