Q1 2025

Education & Training M&A Update

In Q1, the Education & Training sector index increased by 3.5% and outperformed the S&P 500, which decreased by 4.4% over the same period.
The median EV/Revenue multiple for reported strategic deals in the Education & Training sector increased to 4.8x in Q1 from 2.0x in 2024.
M&A deal volume in the sector decreased 14.2% in Q1 to 169 deals from 197 in Q4 2024, and decreased 0.6% from 170 in Q1 of the prior year.
As a % of total capital invested in M&A transactions, PE participation decreased in Q1 to 54.1% from 90.3% in 2024.
North America was the most active region in Q1 with 169 deals. Most notably in the North American market was Pheonix Partner Management’s $100.0 million acquisition of Academy of Learning Career College (“AOLCC”), a Canadian educational institution for higher education, in January 2025.