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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 196th 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
Recent activity confirms the private education M&A market is maturing along two tracks: consolidation among category leaders and strategic bolt-ons that address specific capability gaps. KKR-backed Lighthouse Learning's roughly ₹1,500 crore acquisition of Pathways School Gurgaon set a new valuation benchmark for premium IB schools in India. In contrast, ETS's acquisition of ACT shows that even non-profit assessment giants are pursuing scale to defend their market positions. In Canada, Yorkville University's planned purchase of Beal University's nursing program reflects continued buyer appetite for accredited, healthcare-adjacent credentials, and Lesha Bank's move into Qatar's Sherborne-branded schools underscores growing institutional capital interest in international K-12 platforms.
Across these deals, a common thread emerges: buyers are paying up for defensible positioning, whether that's regulatory approval, brand strength, or durable enrolment demand, and are structuring deals around continuity for students and staff.
For owners, this is a favourable window, but only for institutions that can demonstrate clean financials and a credible growth story. For buyers, the message is discipline: differentiated assets will command premium multiples.
If you're evaluating a sale, acquisition, or recapitalization in 2026, let's schedule a confidential 30-minute call to benchmark your institution against current buyer criteria. Reach out to us for a discreet discussion.
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1) REPUTABLE & PROFITABLE K-12 DAY & INTERNATIONAL BOARDING SCHOOL (EASTERN CANADA)
SIGNED LOI
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) NURSING & HEALTHCARE CAREER COLLEGE GROUP IN 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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3) 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 optimization, and increased utilization of clinics and salons. 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) 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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KKR-BACKED LIGHTHOUSE LEARNING TO ACQUIRE PATHWAYS SCHOOL
In ₹1,500 Crore deal, this is one of India's largest K–12 education deals.
Read more
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YORKVILLE UNIVERSITY TO ACQUIRE BEAL UNIVERSITY CANADA
Strengthening the future of nursing education in New Brunswick.
Read more
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INSPIRED EDUCATION
TO BUY ALPHA PLUS SCHOOLS
The global schools group is set to acquire Alpha Plus Group's 17 schools and nurseries.
Read more
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LESHA BANK COMPLETES THE ACQUISITION IN SHARAKA EDUCATION HOLDINGS
51% interest in Sharaka Education Holdings WLL, a Qatari company engaged in the education sector.
Read more
ETS ACQUIRES ACT, CONSOLIDATING TWO TESTING GIANTS
The move comes as more colleges are going back to requiring standardized tests for admissions.
Read more
BATTEN UNIVERSITY ACQUIRES SANTARA COLLEGE OF HEALTH SCIENCES
Following approval by the Southern Association of Colleges and Schools Commission on Colleges.
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ARCO INVESTS R$190M TO EXPAND ENGLISH LEARNING BUSINESS
Company controlled by the Ari de Sá family aims to double its English-language business.
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EDUCATIONAL FINANCE LEADERS JOIN FORCES
Higher Education Servicing Corporation (HESC) acquires CampusDoor.
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PRIVATE SCHOOL GROUP IN SOUTH AFRICA SELLING FOR R172 MILLION
The sale of Generation Education Group to the Education Investment Impact Fund of South Africa has received the green light.
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KEAN UNIVERSITY AND NEW JERSEY CITY UNIVERSITY COMPLETE A HISTORIC MERGE
Establishing Kean Jersey City as the newest campus in the Kean system.
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FIRST INDIAN INSTITUTE OF TECHNOLOGY CAMPUS TO, OPEN IN US
The Indian Institute of Technology Bombay will launch its first overseas sub-campus in the US.
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PROPOSED MERGER OF 2 ONTARIO COLLEGES SPARKS GRIEVANCES BY UNION
At least six grievances against Fleming in Peterborough and St. Lawrence, based in Kingston.
Read more
| | ABOUT HEG’S M&A ADVISORY SERVICES | | |
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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