Billionaire-backed private school giant taking over another school brand
Curro, which has been taken over by billionaire Jannie Mouton’s foundation, has received the green light to acquire the operations of one of its brands, Meridan Schools.
Curro is South Africa’s largest private school network, with over 70,000 students as of June 2025. It also has over 180 schools across the country. It offers schooling from Grade R to High School.
The broader group has nine schooling models, including eight Curro brands ranging from preschool to High School, and Meridian Schools.
While Meridian Schools is one of Curro’s several brands, its ownership structure is rather complex.
In 2012, Curro concluded a joint venture with the Public Investment Corporation and Old Mutual Investment Group of South Africa (Omigsa).
The companies pledged R440 million in capital to create a group of Meridian schools to accommodate approximately 20,000 learners.
Via the transaction, Campus and Property Management Company (CAPMAC) was created. CAPMAC officially owns the Meridian brand, and its physical school buildings and boarding facilities.
Curro owns 65% of the CAPMAC, with its funding and operations ring-fenced from Curro’s other operations.
Meridian Schools offers schooling for students up to Grade 12, with one school also accommodating preschool children.
The Meridian schools are co-ed, and English is the medium of instruction. The school follows a cost-sensitive model, while still aiming to offer education that meets Curro’s standards. Its fees are lower than other Curro schools.
“The curriculum also includes a digital wider subject choice offering, enabling FET phase learners to select subjects not offered at their specific school,” said Curro.
The Competition Commission has now recommended that the Competition Tribunal approve the deal where Curro Holdings intends to acquire two companies linked to Meridian, without conditions.
The two companies are CAPMAC and Meridian Operations Company (MOP), the latter of which is a non-profit company that serves as the operating entity for all Meridian Schools.
The commission is of the view that the proposed transaction is unlikely to lessen or prevent competition in any market substantially. The transaction also does not raise significant public interest concerns.
Massive ownership changes
The transaction marks yet another change in Curro’s ownership structure, following Mouton’s foundation taking control of the private school group.
Mouton is a legend of South Africa’s business space, having acquired several major companies, including Capitec, the PSG Group, and Curro.
In August, Curro announced that the Mouton’s foundation would acquire the group in a deal worth roughly R7.2 billion, including cash and shares in Capitec and PSG Financial Services.
The deal has seen Curro delisted from the Johannesburg Stock Exchange and transitioned into a public-benefit organisation.
As per the deal, all surplus funds from the schools will be used to expand educational facilities and provide bursaries.
The current management team of Curro remains on board following the deal, who will continue to grow its offerings independently.
Mouton established the foundation in 2004 to further invest in the nation’s education, having already donated a significant portion of his wealth to it.
Curro’s previous shareholders received a 60% premium from the announcement price in August, with many drawn to owning a piece of Capitec.
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