Tuesday, 19 September 2023, 12:10
A British investment fund has acquired a well-known international college on the Costa del Sol following months of complex negotiations.
British company Affinitas Education, owned by investment fund Oakley Capital, acquired the Torrequebrada International College (CIT) in Benalmádena, in a deal that was finalised in August.
Victor Lundsten, CEO and founder of Affinitas, said: "from the moment I walked into CIT and met the team, I knew it was a school where I would be happy to send my daughter. There is no better proof: we are delighted to establish this long-lasting partnership with such a promising school".
He said Affinitas Education's mission is to "empower schools to be the best version of themselves: to be extraordinary". "We are excited to partner with CIT, already known for its international curriculum, commitment to environmental sustainability and emphasis on personal responsibility. CIT's high standards and profile are closely aligned with our mission and values. We will empower the team, forge connections with other schools and enhance what the school already does well," Lundsten added. He also pointed out that the Costa del Sol and wider Malaga are fast-growing areas with a demand in high quality international education.
Continuity in management
On whether there would be any changes to management or the school's education model, Lundsten said that his goal "is never to make changes without understanding what is already working well."
"We are delighted to be working with Iciar Garcia and her team, who work with passion and commitment to the success of CIT. We will work with Iciar and her team to continue to provide the tools and resources necessary to achieve the best quality education," he added.
Affinitas Education already acquired a majority stake in Xabia International College in the Alicante town at the end of last year, and Lundsten did not rule out future acquisitions in Spain. "Affinitas is always looking for growth opportunities with quality schools both in Spain and internationally". The group owns ten schools, two in Spain and eight in Mexico.
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