Like Educational Resources Pte Ltd

closed 1/4/2008 via

AEC Education Plc, acquired Educational Resources Pte Ltd

synopsis: AEC is pleased to announce the exchange of contracts to acquire the 65% of Educational Resources Pte Ltd that it does not already own (“the Acquisition”) with effect from 4 January 2008. ER is incorporated in Singapore and has four wholly owned subsidiaries. Following the Acquisition, AEC will hold 100% of the issued share capital of ER.
buyer: AEC Education Plc (AIM:AEC:$10.66)
AEC Education Plc provides a range of educational courses and training programs, both as tutored courses leading to qualifications and by way of distance learning under various arrangements with universities, primarily in Singapore and Malaysia. "
target: Educational Resources Pte Ltd
Educational Resources provides curriculum resources, library books, educational multimedia and teaching resources to schools in Singapore.
price ($mm)
$0.58*
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 10/4/2012 via BNC Analysis

Pearson Longman, will acquire Educational Resources Pte Ltd

synopsis: AEC Education PLC, which offers a number of diploma and degree programs up to the post-graduate level to students in the Asian region, said it has agreed to sell its non-core examinations subsidiary, Educational Resources Pte Ltd, or ER, to Pearson Education South Asia Pte. Ltd.
buyer parent: Pearson plc
buyer: Pearson Longman
In Singapore since 1965, Pearson Longman draws on experiences, heritage and networks to bring numerous quality instructional programmes and resources that are tailor-made to the latest syllabuses from the Singapore Ministry of Education. "
target parent: AEC Education Plc
target: Educational Resources Pte Ltd
AEC Education Plc offers a number of diploma and degree programs up to the post-graduate level to students in the Asian region. They have both class-based instruction and distance learning to post-graduate degree level.
price ($mm)
$4.03
rev ($mm)
$3
EBITDA ($mm)
$0
EV / rev
1.3x
EV / EBITDA
25.0x
closed 3/30/2020 via BNC Analysis

Unacademy, acquired Kreatryx

synopsis: India's largest education technology platform Unacademy has acquired Kreatryx, a Delhi-based online exam preparation startup. With the acquisition, Kreatryx, whose platform offers services for exams such as GATE and ESE, will continue to operate as a separate brand under the Unacademy Brands umbrella.
buyer: Unacademy
Unacademy is India's largest education platform, offering over 2,400 online lessons and specialised courses to prepare for various competitive exams. Through Unacademy's mobile app, users can attend live classes by top educators and prepare via Live Test Series, Quizzes, Practice Section, and more. "
target: Kreatryx
Kreatryx is an ed-tech start-up in India that provides Top quality GATE Exam training for all through its online products and postal study courses. Kreatryx aims to bridge the gap between a student's performance and potential by providing a platform for personalized learning and self-evaluation.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 1/29/2020 via BNC Analysis

Benesse Holdings, Inc., will acquire Study Hacker Co., Ltd.

synopsis: Benesse Holdings Inc., a Japanese company focused on education and publishing, will acquire a 50.1% stake in Study Hacker Co., Ltd., a specialty prep school in Japan. Study Hacker helps students prepare for medical school exams and other difficult university exams. The company also operates English learning centers.
buyer: Benesse Holdings, Inc. (TSE:9783:$4,052.38)
Benesse Holdings, Inc. is a Japanese company focused on education and publishing. Benesse Holdings, Inc. provides, through its subsidiaries, course material, student pocketbooks, magazines, tutoring services, exam prep services, educational equipment, and more. "
target: Study Hacker Co., Ltd.
Study Hacker is a specialty prep school in Japan. Study Hacker helps students prepare for medical school exams and other difficult university exams. The company also operates English learning centers that provide short-term training to help students improve their English.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 5/2/2018 via PR Newswire

Bain Capital Double Impact, acquired Penn Foster Inc.

synopsis: Bain Capital Double Impact, the impact investing strategy of Bain Capital, announced that it led an investor group to acquire Penn Foster, a provider of skills development and digital credentialing solutions, from the Vistria Group. Penn Foster's digital and blended learning programs are delivered in a self-paced model along with academic coaching.
buyer parent: Bain Capital
buyer: Bain Capital Double Impact
Bain Capital Double Impact is the impact investing strategy of Bain Capital, a leading global private investment firm. Bain Capital Double Impact utilizes Bain Capital's proven, deep diligence, value-added approach to build great companies that deliver competitive financial returns. "
target parent: The Vistria Group
target: Penn Foster Inc. (REVU:$188.75)
Penn Foster helps individuals develop the skills they need to pursue purposeful, and productive careers through affordable diploma, certificate and degree programs. Their digital and blended learning programs are delivered in a self-paced model along with personalized academic and career coaching.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 12/10/2015 via BNC Analysis

Gateforum Educational Services Private Limited, acquired Testfunda.com

synopsis: Thinkcell Learning Solutions (formerly Gateforum Educational Services) has acquired elearning company Enabilon Learning, which offers its testprep packages through Testfunda.com. TestFunda.com provides online aptitude test preparation, with a focus on MBA and bank test preparation market.
buyer parent: ASK Pravi Capital Advisors Pvt. Ltd
buyer: Gateforum Educational Services Private Limited
Thinkcell Learning Solutions Pvt. Ltd. (formerly Gateforum Educational Services Pvt. Ltd.) is an educational services provider. It offers test preparatory tools for graduate aptitude tests in engineering courses. They are the number 1 institute for preparation for the GATE Exam. "
target: Testfunda.com
With over 500,000 users, TESTfunda.com is the online hub for MBA, Bank and UPSC exam aspirants. They provide complete test preparation for CAT, XAT, IIFT, CMAT, NMAT, SNAP, MH-CET, Bank exams (IBPS PO, IBPS Clerk, SBI PO, SBI Clerk), UPSC CSAT and Campus Recruitment Tests.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 5/25/2010 via BusinessWire

Certiport, Inc., acquired MeasureUp, Inc.

synopsis: Certiport, the leading provider of test delivery services for the global workforce and academic markets, announced they have acquired MeasureUp LLC, the global leader in IT practice tests and assessment services.
buyer parent: Spire Capital Partners, L.P.
buyer: Certiport, Inc.
Certiport is the leading provider of value-added, computerized test delivery services that include an expansive network of Certiport testing centers worldwide. Its comprehensive services encompass test development, psychometrics, program management, sales and marketing. "
target: MeasureUp, Inc.
MeasureUp is an assessment and certification practice test company, providing the necessary tools to reinforce learning and validate knowledge. MeasureUp assessment and practice test customers include a broad range of companies and higher-education learning institutes.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 3/11/2019 via PR Newswire

Interactivation, acquired Med School Tutors

synopsis: Interactivation, a holding company owned by entrepreneurs Joe Covey and Matthew Davidge, has acquired Med School Tutors, the leading medical school tutoring company that helps aspiring physicians succeed in medical school, on their standardized exams, and beyond.
buyer: Interactivation
Interactivation is a holding company owned by Joe Covey and Matthew Davidge. The company focuses on acquiring and operating media, education and health companies. Interactivation likes to buy small “orphan business units” from large companies with revenue of at least $10 million. "
target: Med School Tutors
Med School Tutors is the leading medical school tutoring company offering one-to-one online tutoring for the USMLE, COMLEX, Shelf Exams, Medical Coursework and Admissions and Residency Advisement, as well as consulting services for medical schools.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 1/31/2019 via BNC Analysis

CERS Group, acquired Ad Verum

synopsis: The CERS Group, a Brazilian company that specializes in online education, has acquired Ad Verum Soporte Educacional, a Brazilian provider of online preparatory courses for public examinations and Brazilian Bar Association (OAB) examinations. Ad Verum offers mock exams, study plans, coaching services, and detailed resources.
buyer: CERS Group
The CERS Group is a Brazilian company that specializes in online education. The group offers courses for legal careers, public examinations, Brazilian Bar Association (OAB) examinations, and post-graduate examinations. CERS has helped over 800,000 students prepare for their exams. "
target: Ad Verum
Ad Verum Suporte Educacional is a Brazilian provider of online preparatory courses for public examinations and Brazilian Bar Association (OAB) examinations. Ad Verum offers mock exams, study plans, coaching services, and detailed resources to help students pass their exams.
price ($mm)
$4.24
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 7/11/2018 via PR Newswire

China Distance Education Holdings Limited, will acquire Ruida Education

synopsis: China Distance Education Holdings Limited (CDEL), a leading provider of online education in China focusing on professional education, will increase its stake in Ruida Education from 40% to 51%. Ruida Education is a Chinese company that provides exam preparation services and products for participants in China's national judicial examination.
buyer: China Distance Education Holdings Limited (DL:$142.77)
China Distance Education Holdings Limited (CDEL) is a leading provider of online education in China focusing on professional education. Their courses are designed to help professionals seeking to obtain and maintain professional licenses and to enhance their job skills. "
target: Ruida Education
Ruida Education is a Chinese company that provides exam preparation services and products, including proprietary books and reference materials, for participants in China's national judicial examination. Ruida delivers services and products at six campuses in China and through its online platform.
price ($mm)
$7.95*
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 8/16/2017 via BNC Analysis

Tanaka Gakushukai, acquired Akasaka Gakuin Co., Ltd.

synopsis: Alternative asset investment firm CLSA Capital Partners-backed Japanese school operator KK BC Ings (Tanaka Gakushukai) has acquired a fellow Japanese medical school preparation school Aksaka Gakuin in a bolt-on acquisition.
buyer parent: CITIC Securities Company Limited
buyer: Tanaka Gakushukai
Founded in 1990 by Hiroki Tanaka, BC Ings operates 68 cram schools for elementary, junior high and high school students under the brand “Tanaka Gakushukai”, which is synonymous with high-quality education. "
target: Akasaka Gakuin Co., Ltd.
Akasaka Gakuin is a preparatory school for students specialized in examination in the medical department of Fukuoka (dentistry department / pharmaceutical department).
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 12/17/2014 via BusinessWire

DeVry Brasil, will acquire Damasio Educacional SA

synopsis: DeVry Inc., a global provider of educational services, announced that DeVry Brasil has signed a definitive agreement to acquire Damásio Educacional. Damásio is a leader in bar exam test preparation and a high quality provider of undergraduate and graduate law programs. Damásio serves more than 50,000 students.
buyer parent: DeVry Inc.
buyer: DeVry Brasil
DeVry Brasil currently operates nine educational institutions. Together, these institutions provide services to over 36,000 students across 15 campuses and offer more than 170 undergraduate and graduate programs in the areas of business, healthcare, law, engineering and technology. "
target: Damasio Educacional SA
Damásio Educacional is a leader in bar exam test preparation and a high quality provider of undergraduate and graduate law programs. Damásio has a 44-year history in Brazil and serves more than 50,000 students through a network of approximately 220 learning centers and through distance learning.
price ($mm)
rev ($mm)
$50
EBITDA ($mm)
EV / rev
0.0x
EV / EBITDA
closed 10/20/2006 via BusinessWire

Kaplan Test Prep and Admissions, acquired Multistate Legal Studies, Inc.

synopsis: Kaplan, the international education firm, has acquired PMBR, a nationwide provider of test preparation for the multistate bar examination. PMBR, provides test prep courses, tutorials and workshops for the MBE, a uniform national 200 question multiple-choice exam that is part of most state bar exams.
buyer parent: The Washington Post Company
buyer: Kaplan Test Prep and Admissions
Kaplan Test Prep and Admissions, a division of Kaplan, Inc., is a premier provider of educational and career services for individuals, schools and businesses. Established in 1938, Kaplan is the world leader in the test prep industry. "
target: Multistate Legal Studies, Inc.
PMBR is a leading provider of review courses to law students preparing for the Multistate Bar Examination (MBE) section of the bar exam. PMBR is the most comprehensive and largest provider of test preparation courses, texts and software serving the MBE, and serves all 50 states.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 8/19/2019 via BusinessWire

Kaplan, Inc., purchased Healthcare Assets from Becker Professional Education

synopsis: Kaplan has acquired certain healthcare test preparation assets of Becker Professional Education, a global leader in professional education serving the accounting, project management and healthcare professions. The acquisition includes certain assets related to Becker’s U.S. Medical Licensing Exam (USMLEⓇ) review programs.
buyer parent: Graham Holdings Company
buyer: Kaplan, Inc.
Kaplan, Inc., a subsidiary of Graham Holdings Company, is a premier provider of educational services for individuals, schools, and businesses worldwide. Kaplan is a pioneer in the for-profit education industry, with a brand name that is synonymous with quality, innovation and integrity. "
seller parent: Adtalem Global Education Inc.
seller: Becker Professional Education
The acquisition includes certain assets related to Becker’s U.S. Medical Licensing Exam (USMLEⓇ) review programs. Becker Professional Education is a global leader in professional education serving the accounting, project management and healthcare professions.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 1/22/2019 via PR Newswire

Grand Canyon Education, Inc., acquired Orbis Education

synopsis: Grand Canyon Education, a publicly traded shared services partner dedicated to serving colleges and universities, has completed the acquisition of Orbis Education Services, an education services company that supports healthcare education programs for 17 regionally accredited universities across the United States.
buyer: Grand Canyon Education, Inc. (LOPE:$939.37)
Grand Canyon Education (GCE) is a publicly traded shared services partner dedicated to serving colleges and universities. GCE supports partner institutions' students through operational functions that achieve organizational growth and student success. GCE is a pioneer of the hybrid campus model. "
target: Orbis Education
Orbis Education develops and manages healthcare education solutions that help alleviate workforce shortages for hospitals and healthcare systems. They form partnerships with academic institutions and healthcare systems to deliver high-quality, clinically intensive healthcare education programs.
price ($mm)
$363
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 11/22/2019 via BusinessWire

Manhattan Review, acquired Get Prepped

synopsis: Manhattan Review, a premier global provider of college and graduate school admissions test preparation, announced that it has acquired all assets of leading LSAT prep provider Get Prepped. Founded in 1999, Get Prepped is a nationwide leader in LSAT preparatory services and offers courses as well as private tutoring and online LSAT review courses.
buyer: Manhattan Review
Manhattan Review, Inc. is a multi-national test prep firm. Founded in 1999, Manhattan Review is the oldest and most prestigious test prep company of its kind in New York City. "
target: Get Prepped
Founded in 1999, Get Prepped is a nationwide leader in LSAT preparatory services and offers courses as well as private tutoring and online LSAT review courses.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 4/13/2018 via Company Press Release

New Harbor Capital, acquired Blueprint Test Preparation, LLC

synopsis: New Harbor Capital completed a majority equity investment in Blueprint Test Preparation, LLC. Headquartered in Los Angeles, Blueprint is the premier LSAT test preparation provider in the U.S., offering in-person and asynchronous online courses, private tutoring, self-study materials and application consulting services.
buyer: New Harbor Capital
New Harbor Capital is a growth-focused private equity firm that understands the value of true collaboration. New Harbor works with business owners and management teams to pursue accelerated growth. They seek to invest in business services companies that offer an opportunity for them to add value. "
target: Blueprint Test Preparation, LLC
Headquartered in Los Angeles, Blueprint is the premier LSAT test preparation provider in the U.S., offering in-person and asynchronous online courses, private tutoring, self-study materials and application consulting services.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 5/18/2018 via Company Press Release

IK Investment Partners, acquired Acadomia

synopsis: IK Investment Partners is pleased to announce that it has acquired Domia Group, owner of Acadomia. Acadomia is the leading player in the primary, secondary, higher-education and test-prep tutoring markets (at-home, centres and online) in France.
buyer: IK Investment Partners
IK Investment Partners is a private equity advisory group with Nordic roots. Focused on investing in companies with strong underlying potential, they are proud to support the IK Funds as they partner with management teams and investors to grow businessess. "
target parent: Metric Capital Partners
target: Acadomia
French Acadomia is the leading player in the primary, secondary, higher-education and test-prep tutoring markets (at-home, centres and online). Acadomia has innovated to offer quality learning experiences to more than 1 million families across different geographies, backgrounds, and subjects.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 4/13/2017 via BNC Analysis

CL Educate Limited, acquired ETEN

synopsis: CL Educate Limited (CL), India’s leading education & knowledge services provider, has acquired ETEN, the test preparation business division of Pearson’s IndiaCan Education Private Ltd (“IndiaCan”). ETEN is a pioneer in tech-based satellite coaching for CA & IAS and has a strong brand with a wide VSAT network in India.
buyer: CL Educate Limited (BSE:540403:$43.09)
CL Educate Limited (CL), is India’s leading education & knowledge services provider. CL Educate operates through two segments, which include Education and training program (including sale of study material) and Vocational training. "
target parent: Pearson plc
target: ETEN
ETEN is the test preparation business division of Pearson’s IndiaCan Education Private Ltd (“IndiaCan”). ETEN is a pioneer in tech-based satellite coaching for CA (Chartered Accountancy) & IAS (Indian Administrative Services) and has a strong brand with a wide VSAT network in India.
price ($mm)
$0.93
rev ($mm)
$2
EBITDA ($mm)
EV / rev
0.4x
EV / EBITDA
closed 4/9/2013 via Company Press Release

Pearson plc, acquired IndiaCan Education Pvt Ltd

synopsis: Pearson announced the buyout of Educomp’s shares in IndiaCan. The buyout of Educomp’s 50% shareholding in IndiaCan gives Pearson 100 % stake in IndiaCan. IndiaCan Education Pvt Ltd. provides vocational education and training for educating and employing the youth in India.
buyer: Pearson plc (LSE:PSON:$5,359.58)
Pearson is the world’s leading learning company. Through its books, newspapers and online products and services, Pearson helps people of all ages to live and learn. "
target parent: Educomp Solutions Limited
target: IndiaCan Education Pvt Ltd
IndiaCan Education Pvt Ltd. provides vocational education and training for educating and employing the youth in India. It focuses on bridging the gap between employment opportunities, skills, and the knowledge base of the unemployed youth in the country and helps them to get placements.
price ($mm)
$22*
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 10/4/2012 via BNC Analysis

Pearson Longman, will acquire Educational Resources Pte Ltd

synopsis: AEC Education PLC, which offers a number of diploma and degree programs up to the post-graduate level to students in the Asian region, said it has agreed to sell its non-core examinations subsidiary, Educational Resources Pte Ltd, or ER, to Pearson Education South Asia Pte. Ltd.
buyer parent: Pearson plc
buyer: Pearson Longman
In Singapore since 1965, Pearson Longman draws on experiences, heritage and networks to bring numerous quality instructional programmes and resources that are tailor-made to the latest syllabuses from the Singapore Ministry of Education. "
target parent: AEC Education Plc
target: Educational Resources Pte Ltd
AEC Education Plc offers a number of diploma and degree programs up to the post-graduate level to students in the Asian region. They have both class-based instruction and distance learning to post-graduate degree level.
price ($mm)
$4.03
rev ($mm)
$3
EBITDA ($mm)
$0
EV / rev
1.3x
EV / EBITDA
25.0x
closed 1/4/2008 via

AEC Education Plc, acquired Educational Resources Pte Ltd

synopsis: AEC is pleased to announce the exchange of contracts to acquire the 65% of Educational Resources Pte Ltd that it does not already own (“the Acquisition”) with effect from 4 January 2008. ER is incorporated in Singapore and has four wholly owned subsidiaries. Following the Acquisition, AEC will hold 100% of the issued share capital of ER.
buyer: AEC Education Plc (AIM:AEC:$10.66)
AEC Education Plc provides a range of educational courses and training programs, both as tutored courses leading to qualifications and by way of distance learning under various arrangements with universities, primarily in Singapore and Malaysia. "
target: Educational Resources Pte Ltd
Educational Resources provides curriculum resources, library books, educational multimedia and teaching resources to schools in Singapore.
price ($mm)
$0.58*
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 10/4/2012 via BNC Analysis

Pearson Longman, will acquire Educational Resources Pte Ltd

synopsis: AEC Education PLC, which offers a number of diploma and degree programs up to the post-graduate level to students in the Asian region, said it has agreed to sell its non-core examinations subsidiary, Educational Resources Pte Ltd, or ER, to Pearson Education South Asia Pte. Ltd.
buyer parent: Pearson plc
buyer: Pearson Longman
In Singapore since 1965, Pearson Longman draws on experiences, heritage and networks to bring numerous quality instructional programmes and resources that are tailor-made to the latest syllabuses from the Singapore Ministry of Education. "
target parent: AEC Education Plc
target: Educational Resources Pte Ltd
AEC Education Plc offers a number of diploma and degree programs up to the post-graduate level to students in the Asian region. They have both class-based instruction and distance learning to post-graduate degree level.
price ($mm)
$4.03
rev ($mm)
$3
EBITDA ($mm)
$0
EV / rev
1.3x
EV / EBITDA
25.0x
closed 1/4/2008 via

AEC Education Plc, acquired Educational Resources Pte Ltd

synopsis: AEC is pleased to announce the exchange of contracts to acquire the 65% of Educational Resources Pte Ltd that it does not already own (“the Acquisition”) with effect from 4 January 2008. ER is incorporated in Singapore and has four wholly owned subsidiaries. Following the Acquisition, AEC will hold 100% of the issued share capital of ER.
buyer: AEC Education Plc (AIM:AEC:$10.66)
AEC Education Plc provides a range of educational courses and training programs, both as tutored courses leading to qualifications and by way of distance learning under various arrangements with universities, primarily in Singapore and Malaysia. "
target: Educational Resources Pte Ltd
Educational Resources provides curriculum resources, library books, educational multimedia and teaching resources to schools in Singapore.
price ($mm)
$0.58*
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 4/28/2016 via BNC Analysis

ArborBridge, purchased Asian Business from ESM Group

synopsis: A Sacramento-based tutoring company ESM Group has completed the sale of its Asian business to ArborBridge, a Santa Monica-based learning company. ESM started its Asia business in 2008 with tutors in Tokyo, helping students there prepare for college entry into the United States.
buyer: ArborBridge
ArborBridge is an educational services firm that has pioneered the most scientific and personalized tutoring in the world. ArborBridge offers a full range of online and in-person programs that include SAT and ACT Test preparation, K-12 Tutoring and ISEE and SSAT preparation. "
seller: ESM Group
ESM started its Asia business in 2008 with tutors in Tokyo, helping students there prepare for college entry into the United States. It eventually did work in Singapore and Hong Kong, but in recent years it pared back down to only Tokyo.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 10/30/2014 via PR Newswire

MPW, acquired Justin Craig Education

synopsis: Mander Portman Woodward Limited (MPW), a portfolio company of Levine Leichtman Capital Partners., has successfully completed the strategic acquisition of Justin Craig Education, one of the United Kingdom's leading exam preparation and tutoring businesses. Justin Craig Education provides revision courses that offers AS/A2 levels and GCSE exams.
buyer parent: Levine Leichtman Capital Partners Inc.
buyer: MPW
MPW is a leading provider of high quality private education for students in their crucial transition from secondary school into UK universities. It provides educational offerings to both domestic and international students who plan to continue their education at prominent universities in the UK. "
target parent: Piper Private Equity Limited
target: Justin Craig Education
Justin Craig Education provides revision courses that offers AS/A2 levels and GCSE exams. They provide classes for subjects including mathematics core, mechanics, statistics, English language and literature, biology, chemistry, physics, geography, history, politics, religious studies, and computing.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 6/3/2014 via PR Newswire

Chegg, Inc., acquired InstaEDU, Inc.

synopsis: Chegg, The Student Hub, announced that it has agreed to acquire InstaEDU, a leading on-demand tutoring marketplace. InstaEDU's platform connects students with on-demand tutors in more than 2,500 subjects, ranging from high school and standardized test prep, all the way through advanced college concepts for as little as $0.40 per minute.
buyer: Chegg, Inc. (CHGG:$361.18)
Chegg, the social education platform, is transforming the way millions of students learn by connecting them to the people and tools needed to succeed in college. Students use Chegg for homework help, course selection, note taking, textbook and e-textbook rentals and Daily deals. "
target: InstaEDU, Inc.
InstaEDU makes it easy for any student to instantly connect with a top tutor in an online lesson space. The website combines the effectiveness of face-to-face private tutoring with the convenience and affordability of an online service. InstaEDU was founded in 2011.
price ($mm)
$30
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 3/5/2008 via Company Press Release

Piper Private Equity Limited, acquired Justin Craig Education

synopsis: Piper Private Equity has completed the MBO of Justin Craig Education, one of the UK’s leading and best established providers of specialist GCSE, AS and A2 revision courses, making a £3m investment.
buyer: Piper Private Equity Limited
Piper Private Equity invests in UK companies valued up to £25 million through management buyouts, management buyins, and other transactions. The company invests primarily in businesses residing in the retail, leisure, consumer products, and travel markets. "
target: Justin Craig Education
Justin Craig Education provides revision courses that offers AS/A2 levels and GCSE exams. They provide classes for subjects including mathematics core, mechanics, statistics, English language and literature, biology, chemistry, physics, geography, history, politics, religious studies, and computing.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 9/15/2017 via GlobeNewswire

RISE Education Cayman Ltd., will acquire The Edge Learning Center

synopsis: RISE Education entered into a definitive agreement to acquire The Edge Learning Center. The Edge is a Hong Kong-based consulting firm that provides young students after-class tutoring, test preparation, and admission consulting services. They offer educational services spanning from SAT and IB Test Prep to teacher training.
buyer parent: Bain Capital
buyer: RISE Education Cayman Ltd. (REDU:$126.04)
RISE Education is a junior English Language Training provider based in China. They pioneered the application of subject-based learning philosophy in China, which uses language arts and social science to teach English in an immersive way that helps students learn to speak like a native speaker. "
target: The Edge Learning Center
The Edge is a leading Hong Kong-based consulting firm that provides students aged 12 years old or above with after-class tutoring, test preparation, and admission consulting services. They offer a broad range of educational services spanning from SAT and IB Test Prep to teacher training.
price ($mm)
$4.22
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 12/12/2018 via GlobeNewswire

Gyldendal A/S, will acquire Mentor Danmark ApS

synopsis: Gyldendal has entered into an agreement to purchase 60% of the shares in MentorDanmark ApS, which offers homework and mentor courses to students in primary and secondary schools.
buyer: Gyldendal A/S (:$133.75)
Gyldendal was founded in 1770 and is Denmark's largest publisher. For almost 250 years, Gyldendal has been working to enrich Danish book readers with knowledge, art, culture and entertaining reading experiences, and publishes over 400 new titles in all possible formats for children and adults. "
target: Mentor Danmark ApS
MentorDanmark ApS, based in Copenhagen, offers homework and mentor courses to students in primary and secondary schools.
price ($mm)
$8.70*
rev ($mm)
$7
EBITDA ($mm)
$1
EV / rev
2.2x
EV / EBITDA
19.0x
closed 6/6/2018 via Company Press Release

Satt, Inc., acquired Mana.bo

synopsis: SATT announced that it has purchased all shares of Mana.bo Inc. Mana.bo, based in Tokyo, provides an online tutoring service using a smartphone application. Mana.bo is an educational service where individual guidance can be easily received.
buyer: SATT, Inc.
SATT, based in Tokyo, provides smart TLEC 3 (Smart Trek 3), a tool to easily create lecture-type e-learning content from presentation files created with Microsoft PowerPoint. "
target: Mana.bo
Mana.bo, based in Tokyo, provides an online tutoring service using a smartphone application. Mana.bo is an educational service where individual guidance can be easily received.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 11/22/2017 via BNC Analysis

IK Investment Partners, will acquire Studienkreis

synopsis: IK Investment Partners, a Pan-European private equity firm, is to acquire Studienkreis GmbH, one of the leading private education providers in Germany, from Aurelius. Studienkreis offers qualified tutoring for students of all classes and types of school in all major subjects.
buyer: IK Investment Partners
IK Investment Partners is a Pan-European private equity firm focused on investments in the Nordics, DACH region, France, and Benelux. Since 1989, IK has raised more than €9 billion of capital and invested in over 110 European companies. "
target parent: Aurelius AG
target: Studienkreis
Studienkreis is one of the leading private education providers in Germany. The company offers qualified tutoring for students of all classes and types of school in all major subjects. Individual support follows a scientifically proven learning concept.
price ($mm)
$85
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 9/7/2017 via BNC Analysis

With Us Corp, will acquire Kyodai Seminar Kubojuku Co., Ltd.

synopsis: With Us Corp, an owner and operator of tutoring and preparatory schools in Japan, will acquire Kyodai Seminar Kubojuku Co., Ltd. Kyodai Seminar Kubojuku Co., Ltd. operates and manages private tutoring schools in Japan for elementary and junior high school students. The company has 7 classrooms located in various cities.
buyer: With Us Corp (JASDAQ:9696:$134.56)
With Us Corporation operates in the education industry in Japan. The company owns and operates tutoring schools that offers group and individual tutoring for elementary, middle, and high school students. They also operate preparatory schools to help students pass high school certification exams. "
target: Kyodai Seminar Kubojuku Co., Ltd.
Kyodai Seminar Kubojuku Co., Ltd. operates and manages private tutoring schools in Japan for elementary and junior high school students. The company has 7 classrooms located in various cities. Students that have attended the company's private tutoring schools have a high rate of passing exams.
price ($mm)
rev ($mm)
$5
EBITDA ($mm)
EV / rev
0.0x
EV / EBITDA
closed 7/5/2017 via Bloomberg

Yukon Capital Partners, acquired Shonan Seminar Co., Ltd.

synopsis: Yukon Capital Partners, a private equity firm, has acquired Shonan Seminar Co., Ltd., a provider of private educational services, including group and individual tutoring schools, for children from elementary to high schools. Both companies are based in Japan.
buyer: Yukon Capital Partners
Founded in 2014, Yukon Capital Partners is a private equity firm headquartered in Tokyo, Japan. "
target: Shonan Seminar Co., Ltd.
Shonan Seminar Co., Ltd. is a provider of private educational services, including group and individual tutoring schools, for children from elementary to high schools. The company was founded in 1988 and is headquartered in Yokohama, Japan.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 5/17/2017 via BNC Analysis

Oakley Capital Investments Limited, will acquire Schülerhilfe

synopsis: Oakley Capital Investments Limited has agreed to acquire the business and operations of ZGS Verwaltungs GmbH ('Schuelerhilfe'), from its current majority shareholders Deutsche Beteiligungs AG (DBAG). Schuelerhilfe is the leading provider of after school tutoring to primary and secondary school students in Germany and Austria.
buyer parent: Oakley Capital Limited
buyer: Oakley Capital Investments Limited (AIM:OCL:$108.70)
Oakley Capital Investments Limited ("OCI"), an AIM listed company, seeks to provide investors with long term capital appreciation, through its investment in the Funds of Oakley Capital Private Equity and through co-investment opportunities. "
target parent: Deutsche Beteiligungs AG
target: Schülerhilfe
Schuelerhilfe is the leading provider of after school tutoring to primary and secondary school students in Germany and Austria. Established in 1974, and headquartered in Gelsenkirchen, Schuelerhilfe provides small-group tutoring through a network of over 1,000 branches in Germany and Austria.
price ($mm)
$46
rev ($mm)
$69
EBITDA ($mm)
$18
EV / rev
0.7x
EV / EBITDA
2.5x
announced 5/17/2017 via BNC Analysis

J-STAR Co., Ltd., will acquire Alpha Corporation Co., Ltd.

synopsis: Tokyo-based private equity firm J-STAR will buy the tutoring business of Japan’s Alpha Corporation. Alpha Corporation provides a one-to-one 100 per cent private tutoring services by professional tutors, tapping into the needs of the education industry in Japan.
buyer: J-STAR Co., Ltd.
J-STAR is an independent and partner-owned Japanese alternative asset manager with $300 million of assets under management. Founded in 2006 in Tokyo, J-STAR has grown into one of the most successful investment firms in Asia, with 17 skilled and experienced professionals "
target: Alpha Corporation Co., Ltd.
Alpha Corporation provides a one-to-one 100 per cent private tutoring services by professional tutors, tapping into the needs of the education industry in Japan. Alpha Corporation operates 16 private tutoring schools in Sapporo, Japan.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 4/11/2017 via PR Newswire

At-Home Tutoring Services, acquired TutaPoint

synopsis: TutaPoint, a leading tutoring firm that offers real-time, live online instruction and tutoring using US based instructors in math, science, language arts computer science and world languages, has been acquired by At-Home Tutoring Services. At-Home Tutoring Services is a private, in-home tutoring service for students in Early Childhood to college.
buyer: At-Home Tutoring Services
At-Home Tutoring Services is a private, in-home tutoring service for students in grades Early Childhood through high school and college. They cover all academic subjects and test preparation for standardized tests. "
target: TutaPoint
TutaPoint offers real-time, live online instruction and tutoring using US based instructors in math, science, language arts computer science and world languages. TutaPoint's proprietary virtual classrooms feature live video, audio, whiteboard and chat.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 9/20/2015 via PR Newswire

TAL Education Group, will acquire Firstleap Education

synopsis: TAL Education Group, a leading K-12 after-school tutoring services provider in China, announced that it has entered into a definitive agreement to acquire Firstleap Education, which provides all-subject tutoring service in English in China to children aged from 2 to 15 years old through both its online platform and over 60 learning centers.
buyer: TAL Education Group (TAL:$2,340.52)
TAL Education Group is a leading K-12 after-school tutoring services provider in China. They offer their comprehensive tutoring services to students from pre-school to the twelfth grade through three flexible class formats: small classes, personalized premium services, and online courses. "
target: Firstleap Education
Firstleap provides all-subject tutoring service in English in China to children aged from 2 to 15 years old through both its online platform and over 60 learning centers. It now serves more than 20,000 students in over 20 cities in China.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 8/20/2015 via BNC Analysis

Studienkreis, will acquire tutoria GmbH

synopsis: Studienkreis, a company that provides tutoring services for students of all ages and adults, is to acquire tutoria GmbH, Germany’s leading digital education company which focuses on individual learning.
buyer parent: Aurelius AG
buyer: Studienkreis
Studienkreis GmbH provides tutoring services for students of all ages and adults. The company offers adult education, language tuition, and support for the talented and gifted and regular after school tuition in all courses. "
target parent: Verlagsgruppe Georg von Holtzbrinck GmbH
target: tutoria GmbH
Tutoria GmbH is Germany’s leading digital education company which focuses on individual learning. Tutoria’s core product is a comprehensive, premium service for private home tutoring – offering more than 20,000 professional tutors, interactive monitoring of success and online management of lessons.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 7/31/2015 via BNC Analysis

ESM Group, acquired Tutorpedia

synopsis: Sacramento-based ESM Group has completed the purchase of San Francisco based tutoring company, Tutorpedia. Both companies specialize in preparing high school students for college entrance exams. ESM bought the name, assets and brand of Tutorpedia.
buyer: ESM Group
ESM Group is a Sacramento-based tutoring company. Launched in 1999, ESM offers college admissions counseling for high school students, as well as tutoring and test preparation. "
target: Tutorpedia
Tutorpedia serves the private and public tutoring needs of families and individuals throughout the Bay Area. They are a personal, comprehensive tutoring resource that connects students in grades K-12 to tutors for academic help.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 6/3/2016 via PR Newswire

Xueda Education Group merged with Xiamen Insight Investment Co., Ltd,

synopsis: Xueda Education Group, a leading national provider of personalized tutoring services for primary and secondary school students in China, announced the completion of its merger with Xueda Acquisition Limited, a wholly-owned subsidiary of Xiamen Insight Investment Co., Ltd.
buyer: Xiamen Insight Investment Co., Ltd (SZSE:000526:$3.82)
Xiamen Insight Investment Co., Ltd. is principally engaged in the operation of real estate leasing business. The Company’s main business activities include merchandise sales, provision of technical services, real estate leasing, property management and others. "
target: Xueda Education Group (XUE:$347.39)
Xueda Education Group is a leading national provider of tutoring services for primary and secondary school students in China with a focus on offering personalized tutoring services.
price ($mm)[EV]
$345 [$135]
rev ($mm)
$339
EBITDA ($mm)
EV / rev
0.4x
EV / EBITDA
closed 11/15/2013 via PR Newswire

Public Consulting Group, Inc., acquired University Instructors

synopsis: Public Consulting Group (PCG) announced it has acquired University Instructors, Inc. (UI), a provider of K-12 flexible learning solutions. Headquartered in Staunton, Virginia, UI delivers K-12 school support solutions in core subject areas. The company's K-12 Flexible Learning Solutions are tailored to meet a school's specific needs.
buyer: Public Consulting Group, Inc.
Public Consulting Group, Inc. is a management consulting firm that primarily serves public sector education, health and human services, and other state and municipal government clients. The firm was established in 1986 and has headquarters in Boston, Massachusetts. "
target: University Instructors
University Instructors, Inc. provides education services and academic programs for schools, teachers, and students in Virginia, North Carolina, South Carolina, and Georgia. It offers school programs, including specific tutoring, inclusion programs, and lab tutoring services.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 10/9/2013 via BNC Analysis

Deutsche Beteiligungs AG, acquired ZGS Schülerhilfe GmbH

synopsis: Deutsche Beteiligungs AG, a leading German private equity company, has bought a majority stake in private tutoring services provider ZGS Schülerhilfe GmbH in a management buyout.
buyer: Deutsche Beteiligungs AG (DB:DBAN:$88.86)
Deutsche Beteiligungs AG ("DBAG") is a leading German private equity company. Since 1965, DBAG has been a preferred partner for equity funding of successful companies whose products and services have made them leaders in their markets. "
target: ZGS Schülerhilfe GmbH
ZGS Schülerhilfe GmbH is the largest provider of private tutoring services in Germany and Austria with 1,050 company-owned and franchised centres operating under the name of “Schülerhilfe”.
price ($mm)
rev ($mm)
$57
EBITDA ($mm)
EV / rev
0.0x
EV / EBITDA
closed 8/13/2013 via PR Web

California Tutor Network merged with WebWise Tutors,

synopsis: WebWiseTutors, LLC, a premier provider of online tutoring services, is pleased to announce a merger with California Tutor Network, Inc., a leading online tutoring solution in California. WebWise Tutors is now in a unique position to take advantage of the thriving online tutoring industry.
buyer: WebWise Tutors
WebWise Tutors offers a full array of online tutoring services to elementary, special education, middle school and high school students, as well as post-secondary, international, military and adult learners. "
target: California Tutor Network
California Tutor Network is a leading provider of online tutoring solutions in California.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA

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Geography
Matching Companies
Ticker: NSEI:CAREERP
 
 
 
 
 
 
 
 
Career Point Ltd.
Career Point Limited is a leading Indian education company with strong brand equity of providing quality education since 1993. With a strong foundation of academic excellence, Career Point caters to the needs of a student throughout the life cycle of a student (K.G. to PhD.)
year
2019
rev ($mm)
$14.43
EBITDA ($mm)
$6.02
EBIT ($mm)
$5.40
Net Income ($mm)
$3.68
Employees
606
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Ticker: BSE:540403
 
 
 
 
 
 
 
 
CL Educate Limited
CL Educate Limited
CL Educate Limited (CL), is India’s leading education & knowledge services provider. CL Educate operates through two segments, which include Education and training program (including sale of study material) and Vocational training.
year
2016
rev ($mm)
$43.09
EBITDA ($mm)
$6.20
EBIT ($mm)
$5.08
Net Income ($mm)
$3.64
Employees
376
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Ticker: TSE:4735
 
 
 
 
 
 
 
 
Kyoshin Co., Ltd.
Kyoshin Co., Ltd.
Kyoshin Co., Ltd. is a Japanese company that operates cram schools in Japan, Germany, China, and the USA. Their schools are aimed at primary to high school students. Kyoshin provides services for exam preparation, English language learning for young children, and Japanese language learning.
year
2018
rev ($mm)
$162.12
EBITDA ($mm)
$12.17
EBIT ($mm)
$4.76
Net Income ($mm)
$4.86
Employees
1463
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Ticker: CEU
 
 
 
 
 
 
 
 
China Education Alliance, Inc.
China Education Alliance, Inc.
China Education Alliance, Inc. is a fast-growing, leading, China-based company offering high-quality education resources and services to students ages 6 to 18 and adults (university students and professionals) ages 18 and over.
year
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rev ($mm)
$46.27
EBITDA ($mm)
$18.27
EBIT ($mm)
$16.58
Net Income ($mm)
$15.26
Employees
409
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Ticker: AIM:AEC
 
 
 
 
 
 
 
 
AEC Education Plc
AEC Education Plc
AEC Education PLC offers a number of diploma and degree programs up to the post-graduate level to students in the Asian region. Their programs attract students from Vietnam, China, Indonesia, Thailand, Korea, Hong Kong, Mongolia and Taiwan as well as Singapore and Malaysia.
year
2015
rev ($mm)
$10.66
EBITDA ($mm)
($1.01)
EBIT ($mm)
($1.47)
Net Income ($mm)
Employees
150
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Ticker: TAL
 
 
 
 
 
 
 
 
TAL Education Group
TAL Education Group
Tomorrow Advancing Life (TAL) is a leading education and technology enterprise in China. Since its establishment, TAL is committed to integrating technologies and the Internet into education, to deliver a better study experience for children through K-12.
year
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rev ($mm)
$2,340.52
EBITDA ($mm)
$372.20
EBIT ($mm)
$293.75
Net Income ($mm)
$337.16
Employees
28637
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Ticker: TSE:4668
 
 
 
 
 
 
 
 
Meiko Network Japan Co. Ltd.
Meiko Network Japan Co. Ltd.
Meiko Network Japan Co. Ltd. owns and operates tutoring cram schools in Japan. Their schools offer inexpensive individual tutoring for self-motivated learning and supplementary studies for students with average scores. Meiko Network Japan has schools located in every prefecture in Japan.
year
2018
rev ($mm)
$174.92
EBITDA ($mm)
$19.29
EBIT ($mm)
$13.41
Net Income ($mm)
$6.01
Employees
814
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Ticker: JASDAQ:9696
 
 
 
 
 
 
 
 
With Us Corp
With Us Corp
With Us Corporation operates in the education industry in Japan. The company owns and operates tutoring schools that offers group and individual tutoring for elementary, middle, and high school students. They also operate preparatory schools to help students pass high school certification exams.
year
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rev ($mm)
$134.56
EBITDA ($mm)
$9.21
EBIT ($mm)
$5.39
Net Income ($mm)
$0.75
Employees
779
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Ticker: OTCPK:AMBO.Y
 
 
 
 
 
 
 
 
Ambow Education
Ambow Education
Ambow Education is a leading national provider of educational and career enhancement services in China, offering high-quality, individualized services and products. With its extensive network of regional service hubs complemented by a dynamic proprietary learning platform and distributors.
year
2017
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$64.68
EBITDA ($mm)
$1.54
EBIT ($mm)
($2.02)
Net Income ($mm)
Employees
2358
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Ticker: JASDAQ:4720
 
 
 
 
 
 
 
 
Johnan Academic Preparatory Institute, Inc.
Johnan Academic Preparatory Institute, Inc.
Based in Japan, Johnan Academic Preparatory Institute, Inc. manages advanced classes, including preparatory schools and individual guidance, as well as classrooms for infants, young children, and employment support schools.
year
2019
rev ($mm)
$65.16
EBITDA ($mm)
($2.20)
EBIT ($mm)
($4.21)
Net Income ($mm)
Employees
387
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