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May 21, 2014 03:40 PM EDT

Apollo Global Expands To Africa

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Apollo Education Group network announced Tuesday that its wholly-owned subsidiary Apollo Global, Inc. will expand in South Africa.

Apollo Global, Inc. closed on the acquisition of an 81 percent consolidated interest in Milpark Education, one of South Africa's leading private tertiary education providers, for approximately $ 25.6 million.

"Aligned with our diversification strategy, Milpark Education brings tremendous value, academic content and expertise serving adult learners," Greg Cappelli, Apollo Education Group Chief Executive Officer, said in a statement. "Expanding into South Africa allows us to broaden our network of global educational institutions. We look forward to exploring other opportunities to serve students on the continent of Africa, which hosts seven of the fastest growing economies in the world."

Milpark Education is well-known and specialized in South Africa with a range of offerings tailored to working adult learners, including qualifications in business, commerce, investment, banking, financial planning, insurance, and government and public management. Instruction at Milpark schools is provided through distance education and, in select instances, through learning in the classroom. 

"Milpark Education is a premier higher education institution and will support the further expansion of Apollo Global into Africa," Curtis Uehlein, Apollo Global President, said in a statement. "At Apollo Global, we share knowledge across our global network and look forward to expanding Milpark's best practices to support the growth of their programs and to continue providing students the opportunity for a better education."

Milpark Education is also an accredited provider of Higher Education (HE) qualifications, and is also accredited to offer a variety of Further Education and Training (FET) programs.

"We are excited at the possibilities that are provided by being part of the Apollo Education Group," Julian van der Westhuizen, CEO of Milpark Education, said in a statement. "We look forward in particular to benefitting from the global perspectives afforded us, and to the opportunity to continue to enhance and enrich our offerings to the benefit of our students and alumni."

Apollo Global's network also includes institutions in Australia, Chile, India, Mexico, and the United Kingdom.

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