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Bellevue Education

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Template:EngvarB Template:Use dmy dates Template:Infobox company Bellevue Education is an international private schools group founded in 2003 and based in London, UK.[1] By 2019 it has grown to consist of 19 schools in the UK and 1 each in France and Switzerland.[2][3] The Group also provides educational support to Bellevue Place Group,[4] a group of Free Schools to which Bellevue's CEO, Mark Malley, and its Group Schools Director, Steve Wade, are Trustees.[5] The group's early growth was driven by funding derived largely from Tarek Obaid, the founder of the oil company PetroSaudi, which has been implicated in the 1Malaysia Development Berhad scandal.[6][7] Bellevue Education was acquired by GEMS Education in 2018, and is a UK and European subsidiary of the Group.[8] In 2019, CVC acquired a 30% stake in GEMS Education, which also includes its stake in Bellevue Education.[9]

History

Bellevue Education was founded under the name House Education by Mark Malley in 2003, when he bought Norfolk House preparatory school in London.[10][11] He also became the headteacher, and when the school was inspected in 2007 it was reported to be significantly improved from its previous inspection.[12]

In 2008 House Education was renamed The Really Great Education Company Limited (EDCO) and purchased Weston Green School in Surrey.[10][13] It also purchased Skippers Hill Manor Preparatory School in East Sussex in 2010.[14][15]

The company adopted the name Bellevue Education Group in 2011, prior to acquiring three more independent schools: Edenhurst Preparatory School in Staffordshire, Brabyns Preparatory School in Cheshire, and Gateway School in Buckinghamshire.[10]

In 2012, Bellevue Education Group was reported to be jointly owned by Mark Malley, with a 35% stake, and its chairman Marwan Naja, owner of Plato One Ltd and Plato Two Ltd.[2] Further investment in that year by Plato Two Ltd coincided with the establishment of Bellevue Education International Limited, of which Bellevue Education Group became a wholly owned subsidiary.[16][17] The parent company completed the acquisition of a Swiss boarding school, Surval Mont-Fleuri, subsequently renamed as Surval Montreux.[18] The group's early growth was driven by funding derived largely from Tarek Obaid, the founder of the oil company PetroSaudi, which has been implicated in the 1Malaysia Development Berhad scandal.[6][7]

Bellevue Education formed a joint venture with Place Group, the Bellevue Place Education Trust (BPET), which operates seven, state funded, primary "Free Schools" across London and the South-East.[19][20] The Group's CEO, Mark Malley, and School Director, Steve Wade, form part of the Trustees of Bellevue Place.[21]

Bellevue Education was acquired by GEMS Education in 2018, and is a UK and European subsidiary of the Group.[8] In 2019, the private equity group CVC Capital Partners acquired a 30% stake in GEMS Education, which also includes its stake in Bellevue Education. Khazanah Nasional, Malaysia's sovereign fund, owns a 3% stake.[9]

The Group has continued its growth with its new shareholders, and recently acquired Farlington School in September 2019.[22] Template:Collapse bottom

References

  1. ↑ "Company House". Company address. https://beta.companieshouse.gov.uk/company/04924426. 
  2. ↑ 2.0 2.1 "Bellevue Education continues empire building". Education Investor Website (Education Investor). 22 October 2012. http://www.educationinvestor.co.uk/ShowArticle.aspx?ID=3012. Retrieved on 9 November 2014. 
  3. ↑ "Bellevue Schools". http://www.blvue.com/our-schools/. 
  4. ↑ "Bellevue Place Trust". https://www.bpet.co.uk/. 
  5. ↑ "Bellevue Place Trustees". https://www.bpet.co.uk/about-us/trustees/. 
  6. ↑ 6.0 6.1 Jon Ungoed-Thomas and Josh Boswell for the Sunday Times 10 April 2016 Saudi oil tycoon revealed as investor in schools company
  7. ↑ 7.0 7.1 "How 1MDB's Stolen Money Funded Top UK Private Schools". Sarawak Report. http://www.sarawakreport.org/2016/04/how-1mdbs-stolen-money-funded-top-uk-private-schools/. Retrieved on 12 April 2016. 
  8. ↑ 8.0 8.1 "GEMS Global completes acquisition of a controlling stake in Bellevue Education". https://www.theassignmentreport.com/articles/20180831_27. 
  9. ↑ 9.0 9.1 "CVC-led consortium to take 30% stake in Dubai's GEMS Education". https://www.ft.com/content/ab178020-a309-11e9-a282-2df48f366f7d. 
  10. ↑ 10.0 10.1 10.2 "BELLEVUE EDUCATION GROUP LIMITED". http://www.dellam.com/04924426-BELLEVUE%20EDUCATION%20GROUP%20LIMITED.html. Retrieved on 9 November 2014. 
  11. ↑ "Mark William Malley: Director Summary". http://companycheck.co.uk/director/913742040. Retrieved on 9 November 2014. 
  12. ↑ "2007 Inspection Report on Norfolk House School". Independent Schools Inspectorate. http://isiservice.devprocess.com/HtmlReportViewer.aspx?r=1217_07.htm. Retrieved on 23 January 2016. 
  13. ↑ "EDCO". http://www.theagencyforeducation.co.uk/work.php?item=edco&sub=2. Retrieved on 9 November 2014. 
  14. ↑ "EMC brokers a bright new future for Skippers Hill Manor School". http://www.emcltd.co.uk/news/success-stories/emc-brokers-a-bright-new-future-for-skippers-hill-manor-school. Retrieved on 9 November 2014. 
  15. ↑ Croft, James. "Profit-Making Free Schools: Unlocking the Potential of England's Proprietorial Schools Sector". Adam Smith Institute. http://www.adamsmith.org/sites/default/files/resources/ASI_School_report_WEB.pdf. Retrieved on 9 November 2014. 
  16. ↑ "Bellevue Education Limited – Annual Accounts". Bellevue Education Group Limited. https://www.companiesintheuk.co.uk/company/documentextract/56750437. Retrieved on 9 November 2014. 
  17. ↑ "Bellevue Education International Limited: Shareholders". http://companycheck.co.uk/company/08028529/BELLEVUE-EDUCATION-INTERNATIONAL-LIMITED/group-structure. Retrieved on 9 November 2014. 
  18. ↑ "Bellevue Education continues empire building". Education Investor Website (Education Investor). 22 October 2012. http://www.educationinvestor.co.uk/ShowArticle.aspx?ID=3012. Retrieved on 9 November 2014. 
  19. ↑ "Bellevue Place Education Trust Free Schools: Master Funding Agreement". Department for Education. http://www.education.gov.uk/cgi-bin/schools/performance/school.pl?urn=139775&downloadfs=pdf&numfile=0. Retrieved on 10 November 2014. 
  20. ↑ "Bellevue Place Education Trust: Director's Report and Financial Statements for the year ending 31st August 2013". Department for Education. http://www.education.gov.uk/cgi-bin/schools/performance/school.pl?urn=139775&downloadar=pdf. Retrieved on 10 November 2014. 
  21. ↑ "Bellevue Place". https://www.bpet.co.uk/about-us/trustees/. 
  22. ↑ "Bellevue acquires UK school". http://www.educationinvestor.co.uk/showarticle.aspx?ID=8127&AspxAutoDetectCookieSupport=1. 
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