Education & Training M&A Update

RESOURCE HIGHLIGHTS

• The Education & Training sector index increased by 15.5% and outperformed the S&P 500, which increased by 3.0% over the same period.
• The median EV/EBITDA multiple in the Education & Training sector for reported private equity deals increased to 32.4x in 2024 from 12.1x in 2023, and for strategic deals increased to 21.0x from 9.6x in the prior year.
• M&A deal volume in the sector increased 0.5% in Q4 to 197 deals from 196 deals in Q3, but decreased 2.5% from 202 deals in Q4 of the prior year.
• As a % of total capital invested in M&A transactions, PE participation increased in 2024 to 90.3% from 83.1% in 2023.
• Europe was the most active region in Q4 with 85 deals. Most notably in the European market was Wilmington’s $39.8 million acquisition of Phoenix Health & Safety (“Phoenix”), UK-based provider of health and safety training services, in October 2024.