Area served Worldwide Founded 2013 | Founders Aaron Etingen | |
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Website globaluniversitysystems.com Subsidiaries IBAT College, Arden University, University Canada West, GISMA Business School, The University Of Law Ltd Type Besloten vennootschap met beperkte aansprakelijkheid | ||
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Global University Systems (GUS) is a private limited company registered in the Netherlands. As a corporate group, it owns and operates several private for-profit colleges and universities in the UK, Canada, and Europe as well as other brands and companies in the education sector such as the e-learning platform InterActive. The company was founded in its present form and name in 2013 by the Russian-born entrepreneur, Aaron Etingen (also known as Arkady Etingen). Etingen is its chairman, CEO, and majority stockholder.
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History
The company began in 2003 with the founding of the London School of Business and Finance (LSBF) by Aaron Etingen. This was expanded to several UK for-profit educational institutions known collectively as the LSBF Group, all owned by Etingen and including the London College of Contemporary Arts (LCCA) and the LSBF School of English. After the market reforms of post-secondary education introduced by UK higher education minister David Willetts in 2011, the LSBF group rapidly expanded its student numbers. Etingen added St Patrick's College, London to his portfolio when his company Interactive World Wide Limited purchased the college in 2012.
Following a restructuring of his holdings in late 2012, Etingen established Global University Systems in 2013. It is incorporated in the Netherlands as a Besloten vennootschap (or BV) and in turn became the owner of the LSBF Group institutions and St Patrick's College through Dutch holding companies. According to John Morgan writing in Times Higher Education, the "BV" structure (equivalent to a private limited liability company), has also been used by other companies which operate in multiple countries, such as Starbucks. Morgan noted that the Netherlands does not require company accounts to be made publicly available and has a tax regime regarded as favourable. GUS's expansion continued over the next two years with the acquisition of the German business school GISMA in 2013 and both University Canada West and London's University of Law in 2015. All three were in financial difficulty at the time of their acquisition.
In September 2015 Global University Systems announced plans for a two-year restructuring process of the group set to begin in mid-2016. According to John Cox, former director of organisational development at GUS, the plan involves LSBF and its LCCA division coming under a new vocational entity offering only diploma courses, short courses and corporate training products. The vocational courses delivered by St Patrick's College and the Birmingham-based Finance Business Training would also come under this division. The University of Law would become sole provider of academic qualifications and professional qualifications, including the master's degrees previously offered by the LSBF Group.
GUS expanded its UK holdings in August 2016 when it acquired the distance and blended learning institution Arden University from Capella Education. It moved into Ireland in November 2016 with the acquisition of IBAT College Dublin.
Principal subsidiaries
Canada
Germany
Ireland
United Kingdom