Q1 2024

Education & Training M&A Update



  • In Q1, the Education & Training sector index decreased 2.1% and was outperformed by the S&P 500 index, which increased 10.8% over the same period.
  • The median EV/EBITDA multiple for reported strategic deals decreased to 8.8x in Q1 from 9.6x in 2023. There were no reported EV/EBITDA multiples for private equity deals in Q1.
  • Deal volume in the Education and Training sector decreased 15.8% in Q1 to 170 deals from 202 deals in Q4 2023, and decreased 40.8% from 287 deals in Q1 of the prior year.
  • As a % of total capital invested in M&A transactions in Q1, PE participation decreased to 72.8%, down from 83.1% in the prior year.
  • North America was the most active region in Q1 with 69 deals. Most notable in the North American market was Instructure’s $835.0 million buyout of Parchment in February 2024.

Please view our Q1 2024 Education & Training Industry M&A Update below:


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