RL Hulett：2025年第四季度全球教培行业并购市场研究报告（中译版）（21页）.pdf

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1、Education&Training M&A UpdateQ4 2025For more information on R.L Hulett or this report please visit our website at ,call us at(314)721-0607,or contact a professional listed on this page.REPORT HIGHLIGHTS In Q4,the Education Services Industry Index decreased by 32.8%,and was outperformed by a 2.0%incr

2、ease in the S&P over the same period.The median EV/Revenue multiple for reported private equity deals in the Education&Training sector decreased to 1.0 x in 2025 from 1.1x in 2024,and decreased for strategic deals to 1.2x from 2.0 x in the prior year.M&A deal volume in the sector decreased 20.3%in Q

3、4 to 189 deals from 237 in Q3,and decreased 4.01%from 197 in Q4 of the prior year.Europe was the most active region in Q4 with 82 deals.Most notable in Europe was Workdays$1.1 billion acquisition of Sana,a Swedish developer of an AI learning platform,in November 2025.Total capital invested in M&A tr

4、ansactions increased 162.5%in Q4 to$2.1 billion from$0.8 billion in Q3,primarily due to Workdays$1.1 billion acquisition of Sana,mentioned above.Comparatively,the largest reported transaction in Q3 was Pearsons$225.0 million acquisition of eDynamic Learning,an operator of an online career and electi

5、ve courses platform for middle and high schools.Education&Training M&A UpdateQ4 2025REPORT CONTRIBUTORSTrevor HulettManaging DRyan HartmanACONTENTS3 Global Deal Analytics7 Valuation Multiples10 Leading M&A Deals13 Industry Outlook14 About R.L.Hulett16 Selected Transactions18 Our M&A TeamDax Kugelman

6、AEducation&Training M&A Update|Q4 2025|Page 3Source:PitchBook DataGlobal Deal Analytics5682188Of the 189 deals in the Education&Training(“E&T”)sector in Q4,Europe was the most active with 82.A notable European deal(in addition to the Sana deal mentioned on the previous page)was Swiss Life Asset Mana