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Welcome To HEG’s Inner Circle eNews
A Bi-Weekly Recap of Essential Reading For The Private School Sector
| | Welcome to the 202nd 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. | | |
SEE YOU IN OTTAWA: HEG AT NACC 2026
Canada’s career colleges are heading to Ottawa—and so are we. Halladay Education Group will attend the 2026 NACC National Conference, “Careers, Coast to Coast to Coast,” from October 25 to 27 at The Westin Ottawa. NACC brings together owners, operators, policymakers, and investors for the real conversations shaping this sector. We always come away with sharper insights and new relationships. HEG President Doug Halladay will speak on several panels about M&A in Canadian post-secondary education, discussing who is buying, what they’re paying for, and how owners can position themselves to capture the most value. Stop by the HEG booth. We look forward to seeing friends and clients—and meeting new ones. To book a confidential meeting in Ottawa, contact Doug at 1.800.687.1492 or info@HalladayEducationGroup.com.
HEG MARKET INTELLIGENCE
The past two weeks confirmed what we see in our deal flow: buyers are no longer just buying schools. They are buying reach, specialization, and capability.
Well-capitalized groups continued crossing borders, entering new countries through established schools with strong local reputations and recognized curricula. Others expanded through operating partnerships. Meanwhile, the largest operators sold schools that no longer fit their portfolios, bringing quality assets back to the market. Specialist and inclusion-focused schools attracted serious capital, as did vocational training linked to healthcare and care-sector hiring. Education platforms added AI and payments tools through tuck-in deals, while even well-established independent schools merged to achieve scale and retain staff.
For owners, the message is clear. Buyers pay for a defined identity: a specialty, a pathway, a curriculum, or a market position that is difficult to replicate. Clean financials and a leadership team capable of running the school without you remain the price of entry.
For buyers, competition at the top is intensifying. A realistic integration plan and pricing discipline will distinguish the good acquisitions from the expensive ones.
This is how we run our sell-side mandates. We position each school based on what today’s buyers are paying, then take it to the groups most likely to value it, across private schools, career colleges, language schools, and education platforms..
At Halladay Education Group, we follow this across private schools, career colleges, language schools, and education platforms. If you are weighing a sale or an acquisition, let’s talk. Book a confidential 30-minute call at info@HalladayEducationGroup.com. This edition’s Featured Opportunities follow below.
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1) NURSING & HEALTHCARE CAREER COLLEGE GROUP IN WESTERN CANADA
REVIEWING OFFERS
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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2) MULTI-CAMPUS WESTERN CANADIAN HEALTH / WELLNESS / BEAUTY CAREER COLLEGE PLATFORM
REVIEWING OFFERS
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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3) 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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4) PROFITABLE ACCREDITED SPECIAL EDUCATION PRIVATE SCHOOL + LEARNING SERVICES (SOUTHEASTERN U.S.)
A profitable, established private school in the high-demand special education market, serving students with learning differences. An accredited elementary and middle day school is paired with a fee-based learning services program that earns year-round revenue beyond tuition. FY27F: ~$4.7M revenue and ~155 students, with normalized EBITDA of ~$470K (FY24-FY26 avg) growing to ~$560K at ~12% margins. The campus is leased, keeping the model asset-light, and the real estate may be available to acquire. Strong retention, exceptional parent satisfaction and state scholarship eligibility support durable enrollment, with clear upside in summer and specialist services. More Info
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5) 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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6) THREE-COLLEGE CAREER EDUCATION GROUP (WESTERN CANADA)
A diversified platform of three established, provincially licensed career colleges across two Western Canadian provinces. Each operates under its own brand and offers programs in business, healthcare, hospitality, and beauty. FY25 operating revenue was $5.4M, with Adjusted EBITDA of $1.2M, matching the FY24-25 average. Management forecasts FY26F revenue of $6.6M and Adjusted EBITDA of $2.2M (a 34% margin), rising to $7.1M and $2.5M, respectively, in FY27F. Starts are expected to increase from about 490 to 580 in FY26F. The four-sector program mix limits reliance on any single sector, while student-aid eligibility supports enrollment. The colleges operate from leased campuses with room to grow, and an experienced operating team will lead after closing. Growth will come from filling capacity, pricing, and adding programs. MORE INFO TO FOLLOW
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AFRICA'S ADVTECH ACQUIRES THE HISTORIC ST GEORGE SCHOOL
Work will begin in 2027 to create an Assisted Learning school under 'The Bridge' brand.
Read more
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EUROPA EXPANDS INT'L PRESENCE WITH ADDITION OF PLENA EDUCATION
Expands the education group’s academic presence to Spain, Portugal, Andorra and Italy.
Read more
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VIEWPOINT SCHOOL AND BERKELEY HALL SCHOOL
TO MERGE
Transforming the landscape of Independent School Education in Los Angeles.
Read more
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OFG EDUCATION SNAPS UP 3 SCHOOLS IN INTERNATIONAL PUSH
Deals for schools in Spain and the United Arab Emirates take the group’s total to four international settings.
Read more
GLOBEDUCATE ACQUIRES FIRST SCHOOLS IN LITHUANIA
The international schools group has entered the country with the purchase of a nursery group and a school with campuses in two cities.
Read more
CARNEGIE LEARNING INVESTS IN THE FUTURE OF WRITING INSTRUCTION
Carnegie Learning, a leader in K-12 education solutions, has acquired Ethiqly from Owl Ventures.
Read more
COGNITA'S PORTFOLIO RESHAPING: WHAT SCHOOL DISPOSALS MEAN FOR INTERNATIONAL SCHOOL CONSOLIDATION
The transfer of UK schools and four St Andrews campuses in Thailand shows how established portfolios can become a source of growth.
Read more
COLLABORATION BETWEEN GEMS EDUCATION AND MUMBAI-BASED SCHOOL OPERATOR
A strategic collaboration with Cresmonde Schools for its existing schools in Vikhroli and Kalyan.
Read more
KORTEXT BUYS AI STUDY PLATFORM STUDYSTASH A YEAR AFTER FOUNDERS GRADUATED
Kortext acquires adaptive AI study platform StudyStash, bringing learning technology into its portfolio.
Read more
ASPIRATION TRAINING ACQUIRED BY LYCEUM EDUCATION GROUP
Aspiration Training Limited is a UK based specialist provider of apprenticeships and vocational training.
Read more
FINALSITE EXPANDS K-12 PAYMENTS CAPABILITIES WITH REVTRAK ACQUISITION
Expansion strengthens Finalsite's mission to help schools deliver meaningful, connected experiences.
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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