M&A

M&A

Arihant Academy acquires Vasai-based Carmel Classes for $1.2 M

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Mumbai-based NSE-listed Arihant Academy has acquired Vasai-based Carmel Classes and Carmel Tuitions for USD 1.2 million.The acquisition enhances Arihant’s course offerings across the state, CBSE, and ICSE boards, covering students from Standard VIII to XII, as well as for prep test programs for professional and language courses, including CA, CS, and IELTS. It also adds 30 classrooms and over 2,000 students to Arihant’s network.Founded in 1994, Carmel Classes runs coaching institutes across state, CBSE, and CISCE boards offering programs in commerce and arts. It also offers coaching for English language aimed at IELTS.