Fairfield Holdings acquires controlling interest of Alethea Group

Jun 12, 2018 (LBO) – Alethea Group, a private educational institution has divested controlling interest of its equity to Fairfield Holdings at end May 2018.

The transaction was arranged and supervised by M Power Capital which was responsible for the overall transaction as well as sell-side advisory for Alethea, while PwC was the adviser on the buy-side for Fairfield Holdings.

The acquisition, was conceptualised and initiated to enable Alethea Group to expand its scope and activities, nurturing an even bigger expanse in the educational sector in Sri Lanka.

The school is certified by both Cambridge International and Edexcel London for its accredited examinations and also offers the national curriculum in the English medium as a government-recognised private school allowing for greater opportunities for Sri Lankan students.

The Hapugalle/Perera family with its 90 year association with Alethea, will remain as shareholders and continue in an executive capacity, guiding the school in all educational and extracurricular matters.

Anitra Perera undertakes a new role as Coordinating Principal/Managing Director, while Kumari Hapugalle Perera will be Executive Director overlooking all school activities.

Dr Sashien Perera remains as a Shareholder/Director in a non-executive capacity.

The new Board of Directors comprise Chairman-Prof. (Eng) G L Dharmasri Wickramasinghe, Managing Director Anitra Perera, Executive Director-Kumari Hapugalle Perera, Prashanthalal De Alwis PC, Brig. Mahendra Wijeratne, A R Abdul Azeez, Pradeepa Kondagama and Dr Sashien Perera.

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