One of the country’s oldest private educational institutions, Alethea Group divested controlling interest of its equity to Fairfield Holdings in May 2018. M Power Capital 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 coming together of Alethea, established in 1927 and Fairfield Holdings, will herald a new chapter for the educational group in enhancing its presence in the country’s education milieu. Currently certified by both Cambridge International and Edexcel London for its accredited examinations, Alethea is a school which offers an integrated system of study, wherein international and Sri Lankan students pursue the educational stream of their choice. Alethea also offers the national curriculum in the English medium as a government-recognised private school allowing for greater opportunities for Sri Lankan students.
Fairfield Holdings’ proposal envisioned both backward and forward integration augmented with state of the art technologically driven teaching aids and progressive methods which assured Alethea of the entity’s commitment to forge a common vision of empowered education founded on equality and consistently driven knowledge gathering.
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.