Arihant Academy further strengthens its Mumbai presence with 100% acquisition of Carmel Classes at a valuation of USD 1.2 million
Arihant Academy, a NSE listed education company, today announced that it has successfully acquired 100% stake in Carmel Classes and Carmel Tuitions in a deal valued at USD 1.2 million. Through this consolidation, Arihant Academy further strengthens its capabilities and expands its reach across Vasai and overall Mumbai.
The deal covers substantial infrastructure of almost 30 Carmel classrooms that will be added to Arihant’s portfolio along with a student base of over 2000+; thus, bolstering Arihant Academy's reach and market share. Furthermore, these coalitions will boost a diversified course offerings and incorporate a wider range of curricula and subjects for Std. VIII, IX & X across State Board, CBSE and ICSE Divisions, Std. XI & XII - Commerce division along with professional courses such as CA & CS and IELTS English test. The acquisitions will further reinforce Arihant’s market leadership in the city’s education sector.
Speaking about the acquisitions, Mr. Anil Kapasi, Co-founder of Arihant Academy, expressed his enthusiasm, “The strategic integrations mark a significant milestone in our journey. Carmel Classes under the leadership of Shibu Sir, have built a strong reputation over the years, and we are honored to carry forward their legacy. With these coaching giants coming together, we plan to take the education system to the next level. Both the teams are fuelled by the desire to give the best education to our students not only in the form of facilities but also faculties. By combining our expertise, resources, and technology-driven education methods, we aim to enhance the learning experience for all students.”
Mr. Shibu Nair, the esteemed founder of Carmel Classes, said, “Since our inception in 1994, our goal has been to nurture students with quality education. Joining hands with Arihant Academy ensures that our students will now have access to advanced digital learning platforms, experienced faculty, and a vast academic network. I am confident that this collaboration will bring the best opportunities for our students.”
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