One of Kenya's expensive schools sold?

One of Kenya's Most expensive school has reportedly been sold to a British private equity fund. Brookhouse school is located in Langata off Magadi Road. On an article published by Business daily on September 14^th 2015 says that the British Curriculum -IGCSE was sold in August 2015 for Ksh 3.6 Billion.

The school was started in 1981 and owned by Piyush Mehta. (the founder). Victoria Bank and PE firm AfricInvest with a controlling stake of 25%, 20% and 30% respectively.

They have now relinquished their shares to Educas, the UK fund.
The school charges KSh 1 million for boarding and tuition per term to its senior students of Year 12 and 13; while those in Year 2 to 5 pay KSh 800,000 for the same period.
It is among the most expensive schools in the country and made a net profit of KSh 121.8 million in 2012, a 61% compared to the net profit of KSh 75.5 million the year.
In the deal, the Mehta family is expected to have made the highest return, receiving KSh 900 million in the latest buyout, Business Daily reports, while Victoria Bank, which is associated with the family of managing director Yogesh Pattni, received KSh 720 million.

“The buyout signals increased investor interest in Kenya’s high-end private education business where the last major transaction was the 2011 takeover of Hillcrest International Schools by PE firm Fanisi Capital for an undisclosed amount.”  

Other expensive schools in the country include International School of Kenya, St Andrew’s Turi, Greensteds, GEMS, Braeside, Peponi and Pembroke, among others.

SOURCE: Business Daily