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 187th 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 Private education deal flow has remained steady into 2026, but premium-multiple buyers are more selective. Scaled platforms with repeatable enrollment engines, defensible pricing, and clean governance are winning; others face longer timelines. XCL Education’s reported US$1.3B valuation suggests institutional capital continues to target premium K–12 networks with regional growth paths. In North America, healthcare education remains the anchor: Curry College’s acquisition of Labouré’s nursing programs highlights the pull of licensure-linked outcomes. Real estate is returning through OpCo/PropCo and lease-backed structures. Globally, growth in Dubai and Saudi Arabia, along with Japan’s international targets, intensifies competition. Diligence now centres on the AI rollout and heightened scrutiny of compliance and sanctions. 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) FAST-GROWING CANADIAN POST-SECONDARY HEALTHCARE-FOCUSED NETWORK REVIEWING OFFER Premium career college group with 22+ campuses across nine cities. FY25: $35.7M revenue / $9.1M adjusted EBITDA. 94% of programs are in high-demand fields, primarily healthcare, with a 100% domestic student base and strong cash conversion. Buyer value: a multi-campus platform, resilient demand drivers, and a proven playbook. Upside via organic campus growth and targeted tuck-in acquisitions. More Info |
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4) MARKET-LEADING CANADIAN MASSAGE THERAPY COLLEGE REVIEWING OFFER 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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5) PREMIUM EUROPEAN SUMMER CAMP PLATFORM REVIEWING OFFER 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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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) 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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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) 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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KKR AGREED TO BUY A MAJORITY STAKE IN XCL EDUCATION In a US$1.3B deal, KKR outbid other investment firms for the stake held by TPG Read more |
| UNIVERSITY OF ST. AUGUSTINE'S FLORIDA CAMPUS SOLD FOR $71.5M The campus was built on the former St. Augustine Record newspaper headquarters Read more |
| SCOTLAND'S LOMOND SCHOOL WILL JOIN QED SCHOOLS GROUP Lomond School, a co-educational independent day and boarding school for pupils aged 3 - 18 Read more |
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CURRY COLLEGE WILL ACQUIRE LABOURE'S NURSING PROGRAMS AND ASSETS Labouré plans to shut its doors and cease academic operations Read more SAUDI ARABIA'S NEXT EDUCATION BOOM: 4 KEY TRENDS Saudi private K-12 expanding, driven by reform and demand for digitally focused education Read more DOVER COLLEGE AND ST LAWRENCE COLLEGE TO MERGE Two Kent independent schools will merge on the Dover College site and join Repton Family of Schools Read more OPENAIPUSHES INTO HIGHER EDUCATION AS INDIA SEEKS TO SCALE AI SKILLS OpenAI is partnering with Indian universities to scale AI tools and curricula for 100,000+ learners Read more NORD ANGLIA WILL OPEN A NEW BRITISH-CURRICULUM SCHOOL IN DUBAI With further all-through campuses across Dubai all pending KHDA approval Read more OFAC SETTLEMENT SIGNALS SANCTIONS RISK FOR SCHOOLS An OFAC settlement highlights sanctions compliance risk for schools with international exposure Read more JAPAN HIT ITS INTERNATIONALISATION TARGET EIGHT YEARS EARLY Japan’s internationalisation drive saw overseas student numbers surpass 400,000 last year 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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