Welcome To HEG’s Inner Circle eNews A Bi-Weekly Recap of Essential Reading For The Private School Sector |
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Welcome to the 189th edition of HEG’s Inner Circle Private School eNews, where Halladay Education Group shares key insights into the latest investment activity shaping the global private education sector. HEG MARKET INTELLIGENCE Global private school and post-secondary transaction activity remains robust. In the UK, independent schools are consolidating rapidly — Framlingham College, Beaudesert Park, and Amesbury School all announced group mergers within the same month. Roedean's decision to withdraw from its proposed Mill Hill merger highlights that choosing the right partner is just as important as finding any partner. Internationally, Forfar Education is expanding into Greece, while the Fullmind/Elevate K-12 merger creates the largest virtual K-12 provider in the US. Closer to home, a federal audit confirmed that Canada's international student cap has had a much greater impact than Ottawa anticipated — a policy correction we expect to see addressed. For school owners considering their next chapter, understanding how these global trends influence your institution's value and timing is precisely what HEG offers. We welcome the conversation. Call To Action: If you’re considering a sale, merger, acquisition, or recapitalization in 2026, now is the time to assess your positioning before the process begins. Let’s schedule a confidential 30-minute call to benchmark your institution against current buyer criteria and identify the value drivers that influence valuation and deal certainty. Reach out to us for a discreet discussion. |
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FEATURED OPPORTUNITIES  1) REPUTABLE & PROFITABLE K-12 DAY & INTERNATIONAL BOARDING SCHOOL (EASTERN CANADA) REVIEWING OFFER Established co-ed school with 50+ years of history, 300+ students, and near-100% university placement. FY26F: $8.2M revenue / $2.0M adjusted EBITDAR. Well-located, multi-site urban campus with ~63% enrollment growth capacity. Buyer value: durable brand, outcomes-driven positioning, diversified delivery (day + boarding), and clear pathway to scale with measured capex and enrollment management. More Info |
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2) PREMIER CANADIAN FILM & DIGITAL ARTS COLLEGE SIGNED LOI High-recognition creative media institution with programs designed and taught by award-winning industry professionals. Buyer value: differentiated curriculum, brand credibility with students and employers, and strong content-to-career alignment that supports pricing power and repeat intakes. Growth levers: program expansion in high-demand digital disciplines, partnerships with studios/employers, and scalable hybrid delivery where appropriate. Status: reviewing offers. More Info |
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3) MARKET-LEADING CANADIAN MASSAGE THERAPY COLLEGE SIGNED LOI Western Canada platform with 30+ years of operations and strong graduate outcomes. FY25F: $2.0M revenue / $380K EBITDA (18%), scaling to $2.7M / $771K (29%) by FY28F. 100% domestic enrollment, regulatory protection, and a trusted brand. Buyer value: recession-resilient demand, strong cash flow, and 2x EBITDA growth through capacity, scheduling, and program optimization. More Info |
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4) PREMIUM EUROPEAN SUMMER CAMP PLATFORM Project Alpine: 50+ years, 350,000 alumni, and participants from 60 countries. FY26F: US$7.2M revenue / $1.2M EBITDA. Buyer value: brand equity, high-margin enrollments, multi-country programming, and repeat/cross-sell potential across channels. Growth levers include extended seasons, new locations, and structured partnerships. More Info |
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5) U.S. FOR-PROFIT K-12 BUYER (VOUCHER/ESA STATES) Global operator seeking acquisitions of for-profit day schools in voucher/ESA markets. Target: $500K–$5M EBITDA, strong academics, and clear growth. Flexible deal structures, including real estate options, are suitable for single sites or small groups. Priority: FL, TX, AZ, GA (plus IN, IA, OH, NC, UT, WV, AL, LA, OK, NH, TN). Confidential, founder-friendly, proven integration. More info |
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6) ACCREDITED CANADIAN DESIGN SCHOOL WITH STRONG FINANCIALS Leading career college in fashion, interior, and technical design, with 98% domestic enrollment and modular hybrid programming. Forecast: >$2.0M revenue and $615K EBITDA by 2028. Buyer value: turnkey operation, breadth of curriculum, and expanded registrations through flexible delivery. Growth levers include new certificates, corporate partnerships, and geographic reach through hybrid. Attractive to strategics seeking creative-education exposure with disciplined margins. More Info |
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7) REGULATED HEALTHCARE CAREER COLLEGE GROUP (WESTERN CANADA) Market-leading, multi-campus healthcare education platform. FY25 anchors at $14.5M in revenue and $3.4M in EBITDA (23% margin), scaling asset-light to $19.3M and $5.9M by FY27F (30% margin), demonstrating strong earnings momentum and growth visibility. Programs include Practical Nursing (LPN) and allied health. Underwriting rests on: (i) approved programs with domestic financial-eligibility status, (ii) defensible practicum access, and (iii) predominantly domestic tuition revenues. More Info |
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8) PROFITABLE TRANSPORT CANADA–APPROVED FTU + AVIATION CAREER COLLEGE (WESTERN CANADA) Scaled, asset-backed aviation training platform: Transport Canada–approved FTU within a provincially accredited career college with DLI and Student Aid eligibility. FY26F: $3.45M revenue, ~335 students, normalized EBITDA ~$910K (FY24–FY25F avg), expanding to ~$1.05M at 30%+ margins. Leased airside campus; 11-aircraft fleet (~$2.6M), simulator, and maintenance operations create a defensible regulatory/operating moat. More Info |
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9) MULTI-CAMPUS WESTERN CANADIAN HEALTH / WELLNESS / BEAUTY CAREER COLLEGE PLATFORM Scaled multi-campus Western Canadian career college group with substantial healthcare exposure and FY26F projected EBITDA of about $2.6M on $6.6M of revenue. The platform combines domestic demand, practical employer-aligned training, and a capacity-ready multi-campus footprint that supports further margin expansion. Growth opportunities include adding cohorts, selective program expansion, pricing optimisation, and increased clinic and salon utilisation. More Info To Come. |
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QUESTIONS RAISED ABOUT THE QUEST UNIVERSITY LEGACY In wake of merger talk, Quest and Columbia College officials say they are looking ahead to a bright future. Read more |
| XCL EDUCATION ENTERS THAILAND EASTERN ECONOMIC CORRIDOR Through a strategic partnership with Mooltripakdee International School (MIS) in Chonburi, Thailand. Read more |
| FULLMIND ACQUIRES ELEVATE K-12 SERVING NATIONWIDE Will create nation's largest dedicated virtual K-12 education company in more than 225 school districts. Read more |
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FORFAR EXPANDS IN GREECE WITH LAUNCH OF THE BRITISH SCHOOL OF THESSALONIKI Announcing BST is set to open its doors to pupils in September 2026.. Read more UNACADEMY TO BE ACQUIRED BY UPGRAD IN SHARE-SWAP DEAL Bringing together two major online learning platforms in India. Read more MOORFIELD SCHOOL JOINS FORCES WITH BRADFORD GRAMMAR Moorfield in Ilkley is known for its outdoor learning and bushcraft provision. Read more CANADA: GOVERNMENT AUDIT FINDS IMPACT OF INTERNATIONAL STUDENT CAP FAR GREATER THAN EXPECTED Audit found significant issues with the design, monitoring, and oversight of restrictive policy settings. Read more ROEDEAN OPTS AGAINST MILL HILL MERGER Both Roedean and Mill Hill have now mutually agreed not to proceed. Read more STORAL ACQUIRES TWO OXFORDSHIRE NURSERIES Bringing the group’s portfolio up to 57 nurseries across England. Read more THE LATEST INDEPENDENT SCHOOL MERGERS - ROUND-UP A clutch of schools are joining larger groups, including Framlingham College and Amesbury School. Read more CHICAGO PRIVATE SCHOOL USING AI INSTEAD OF TEACHERS ENROLLING FOR FALL Would you pay to send your child to a private school with no teachers and learning driven by AI? Read more UK UNIVERSITIES FLOCK TO INDIA - BUT WILL THEY SUCCEED? University of Southampton Delhi was the first UK university to open a campus in India. Read more |
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ABOUT HEG’S M&A ADVISORY SERVICES |
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Halladay Education Group (HEG) is a premier M&A advisory firm specializing exclusively in the private education sector across North America and internationally. With over 30 years of experience, HEG has successfully led the sale, acquisition, and recapitalization of a diverse range of educational institutions, including K-12 private schools, boarding and Montessori schools, early childhood centers, ESL programs, career colleges, and higher education platforms. We are a trusted advisor to private equity firms, institutional investors, operators, and family offices pursuing strategic growth, as well as school owners seeking full or partial exits. Backed by deep sector expertise, an extensive proprietary database of qualified buyers, and full-cycle transaction support, HEG has earned a reputation as one of the most active and respected firms in the field. To confidentially discuss your institution’s strategic options—whether a sale, merger, acquisition, or financing—and how emerging trends may impact your outlook, contact us at 1-800-687-1402. Please view our Corporate Brochure. info@halladayeducationgroup.com | 1-800-687-1492 | www.buyingandsellingschools.com |
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