Education & Training M&A Update

RESOURCE HIGHLIGHTS

• In Q3, the Education & Training sector index decreased by 7.0% and was outperformed by the S&P 500, which increased by 5.3% over the same period.
• The median EV/Revenue multiple for reported private equity deals decreased to 0.7x in the first nine months of 2024 from 2.0x in 2023, but increased for strategic deals to 2.2x from 0.9x in the prior year.
• M&A deal volume in the Education & Training sector increased 15.3% in Q3 to 196 deals from 170 deals in Q2, but decreased 6.2% from 209 deals in Q3 of the prior year.
• As a % of total capital invested in M&A transactions, PE participation decreased slightly in YTD Q3 to 76.2% from 83.1% in 2023.
• Europe was the most active region in Q3 with 92 deals. Most notably in the European market was Wendel Group’s $693.3 million acquisition of Globeducate, a Madrid-based operator of 65 premium bilingual and international schools, in July 2024.