Q3 2025 Education Industry Trends

Q3 2025 KEY HIGHLIGHTS

The largest transaction in Q3 2025 was Swiss Life Asset Managers’ acquisition of Grupo Educare, an operator of charter schools based in Spain, for $234 million.

There were 87 financially sponsored transactions in the 1st 3 Quarters of 2025, with an aggregate value of $1.48 billion, representing 26 percent of the total volume and 33 percent of the total value, respectively.

Q3 2025 KEY TRENDS

Total transaction volume in Q3 of 2025 fell 31 percent over Q2 of 2025, from 137 to 95.

Total transaction value in Q3 of 2025 increased 7 percent over Q2 of 2025, from $1.4 billion to $1.5 billion.

Based on volume, the most active market segment that Berkery Noyes tracked in Q3 2025 was Professional Training Services with 22 transactions.

MULTIPLES & VALUE TRENDS

The median revenue multiple from 2024 through the 1st $8.7 2025 remained the same at 1.8x.

TOP TEN DEALS THROUGH Q3 2025

The top ten deals by value have seen three new additions since our half year report: the previously mentioned acquisition of Grupo Educare by Swiss Life Asset Managers, Nautic Investment’s acquisition of TIME Education, a leading private education services provider in South Korea, for $63 million, and Accenture’s announced acquisition of Aidemy, a Tokyo-based provider of online learning services specializing in AI and digital transformation, for $36 million.

These three deals, with an aggregate value of $333 million, represented 22 percent transaction value in Q3 2025.