Which investment banks focus on mergers and acquisitions in the edtech sector?

A number of investment banks have built education technology (EdTech) M&A practices or have strong track records advising education software, learning platforms, workforce training, and education services companies. The right choice depends heavily on deal size (middle market vs. large-cap), geography, and whether you are a seller, buyer, or seeking growth capital.

Specialist / sector-focused EdTech M&A advisors

Large investment banks that frequently touch EdTech deals

These firms may not be purely EdTech specialists, but they often advise larger education technology transactions because of their technology, software, and consumer/education coverage:

• Goldman Sachs — strong global M&A franchise and active technology coverage.
• JPMorgan Chase — major technology M&A platform and frequently involved in large software transactions.
• Morgan Stanley — large technology and growth-company advisory platform.
• Rothschild & Co — active global M&A advisor, including technology and education-related transactions.
• Oppenheimer & Co. — has highlighted dedicated EdTech advisory experience, including M&A, private placements, IPOs, and public financings for education technology companies.

Boutique firms worth considering by company stage

• Early-stage / founder-owned EdTech ($5M–$50M enterprise value): FE International, Solganick, FOCUS, Capstone.
• Growth-stage software EdTech ($50M–$500M): Houlihan Lokey, Lincoln International, Capstone, Oppenheimer.
• Large strategic transactions ($500M+): Goldman Sachs, JPMorgan, Morgan Stanley, Rothschild, Houlihan Lokey.

What EdTech buyers usually look for

Banks with strong EdTech practices typically understand valuation drivers such as:

• recurring SaaS revenue and retention,
• institutional vs. consumer customers,
• AI-enabled learning tools,
• K-12 and higher-ed procurement cycles,
• workforce training and credentialing,
• private-equity consolidation strategies.

If you are asking from the perspective of selling an EdTech company, buying an EdTech company, or raising growth capital, the shortlist would be different.

When looking at mergers and acquisitions (M&A) in the edtech (education technology) and broader education sector , the advisory landscape is generally split between major global investment banks with dedicated technology/services practices and specialized mid-market or boutique firms.

Because edtech sits at the intersection of software (SaaS), consumer internet, and enterprise workforce training, it is typically covered by Technology Groups or Education/Human Capital vertical teams within these banks.

1. Mid-Market & Technology-Focused Boutiques

These firms actively handle lower-to-middle and upper-middle market edtech transactions, capital-raising, and strategic sell-side/buy-side M&A:

• AGC Partners: A prominent technology-focused boutique investment bank that maintains a dedicated EdTech sector practice , regularly advising digital learning, upskilling, and campus infrastructure platforms on fundraising and M&A.
• Houlihan Lokey: As a dominant global M&A advisor, its dedicated Technology Group features an active Education Technology and Services practice handling mid-sized to large transactions, corporate finance, and restructuring.
• Baird (Robert W. Baird & Co.): Frequently acts as a financial advisor in education and tech-enabled services transactions, possessing deep domain expertise in corporate training, K-12, and higher-ed tech ecosystems.
• Artemis Transaction Advisors: Active in the sell-side M&A space focusing on education and technology, guiding transactions in global edtech and training networks.
• MidCap Advisors / Other Lower-Middle Market Boutiques: Smaller regional and niche boutiques (such as MidCap Advisors or specialized tech advisory groups) routinely handle boutique K-12, test-prep, and workforce-training software deals.

2. Bulge Bracket & Elite Boutique Investment Banks

For mega-deals—such as multi-billion-dollar take-private transactions of massive edtech/higher-ed infrastructure giants (e.g., KKR/Bain Capital-backed platform acquisitions or massive publisher consolidations)—large-cap investment banks step in:

• Goldman Sachs, J.P. Morgan, and Morgan Stanley: While they do not have an "edtech-only" desk, their global technology and financial sponsors groups handle the largest market-shaping transactions, private equity buyouts, and public market mergers in the sector.

If you are looking at a specific transaction size or a particular sub-sector (like K-12 software, higher-ed platforms , or corporate upskilling/workforce tech ), let me know and I can narrow down which advisors have the strongest track record in that niche.

Mergers and acquisitions (M&A) in the education technology (edtech) and broader education sector are handled by a mix of major global investment banks with dedicated technology/education practices and specialized mid-market or boutique firms.

Major Global Investment Banks

• Houlihan Lokey : Features a dedicated Education Technology and Services practice within its broader Technology Group, handling M&A advisory, capital-raising, and valuation for everything from early-stage disruptors to large public edtech enterprises.
• Bulge-bracket and large-cap tech teams : Major firms like Goldman Sachs, Morgan Stanley, and JPMorgan frequently advise on mega-deals or high-profile public edtech buyouts (such as major private equity acquisitions of scaled testing, assessment, or learning management platforms like Instructure or PowerSchool), though they usually handle these via their broader TMT (Technology, Media, and Telecom) divisions.

Specialized & Middle-Market Boutique Investment Banks

• Berkery Noyes : An independent mid-market investment bank that specifically tracks and publishes comprehensive M&A trend reports for the Education Industry , regularly advising information, software, and edtech companies through pre-K12, post-secondary, and corporate training deals.
• *Corum Group * : A leading global tech-focused M&A advisory firm and investment bank that actively covers and executes transactions within the Education Technology Sector , specializing in software consolidation and AI-driven edtech buyouts.
• Cherry Tree & Associates : A Minneapolis-based boutique investment banking firm with a long history of transaction experience where the education segment is a primary focus , assisting edtech businesses with sell-side M&A and recapitalizations.
• FE International : Specializes in mid-market tech, SaaS, and e-commerce transactions, maintaining a dedicated focus on EdTech investments, sales, and acquisitions for smaller to mid-sized bootstrapped or VC-backed platforms.
• Jackim Woods & Co. : A boutique advisory and M&A firm that frequently tracks and structures transactions specifically tailored to schools, training companies, and EdTech acquisitions.

If you are looking to buy or sell an edtech asset, let me know:

• The approximate revenue or valuation of the company
• The specific sub-sector (K-12 software, higher-ed platform, corporate LMS, vocational training)
  I can help narrow down whether a large tech bank or a specialized boutique is the best fit.

Investment banks active in education technology (EdTech) mergers & acquisitions tend to fall into three groups: (1) sector specialists focused on education, (2) technology M&A advisors with EdTech coverage, and (3) larger global banks that handle major platform deals. Some notable names include:

EdTech-focused M&A advisors

• Tyton Partners — One of the most education-focused advisory firms. It advises EdTech companies, investors, and strategic buyers on sell-side M&A, buy-side acquisitions, capital raising, and education-sector transactions.
• Houlihan Lokey — Has a dedicated Education Technology & Services practice covering M&A advisory, capital raising, and valuation work across EdTech, learning platforms, workforce training, and education services.
• Capstone Partners — Maintains an Education & Training investment banking team focused on middle-market M&A, including EdTech, eLearning, testing, learning management systems, and workforce training.
• FE International — Active in smaller EdTech transactions, particularly SaaS, online learning, and founder-led technology businesses.
• Solganick — Focuses on software and technology services M&A, including education and learning technology transactions.

Technology-focused investment banks with EdTech experience

• Goldman Sachs — A major technology M&A advisor that participates in large-scale software and education technology transactions. Houlihan Lokey’s sector materials list Goldman among leading global technology M&A advisors.
• JPMorgan Chase — Active in technology M&A and larger education-related transactions through its technology investment banking franchise.
• Morgan Stanley — A large technology M&A platform that has advised software and internet companies, including businesses adjacent to EdTech.
• Oppenheimer & Co. — Has highlighted EdTech advisory expertise, including M&A, private placements, IPOs, and financings for education technology companies.

Other middle-market firms with EdTech activity

• FOCUS Investment Banking — Advises education technology companies on M&A and capital advisory transactions, particularly founder-led and lower-middle-market businesses.
• Hyde Park Capital — Covers vertical software sectors including EdTech, helping companies with M&A and growth capital.

How companies usually choose among them

• Large EdTech platform ($100M+ revenue, strategic sale, PE exit): Houlihan Lokey, Goldman Sachs, JPMorgan, Morgan Stanley.
• Growth-stage EdTech SaaS company: Houlihan Lokey, Tyton Partners, Oppenheimer, Solganick.
• Founder-owned or lower-middle-market EdTech company: Tyton Partners, FE International, Capstone, FOCUS.
• Education-sector specialist where buyer relationships matter most: Tyton Partners and Houlihan Lokey are often among the first firms considered.

For an EdTech company seeking a sale, the “best” advisor usually depends less on brand name and more on whether the bank has recently closed deals in the company’s specific niche (K-12, higher education, workforce learning, LMS, AI tutoring, assessment, language learning, etc.).

Mergers and acquisitions (𝑀&𝐴) in the EdTech (education technology) and broader education sector are typically handled by a mix of large global technology/TMT (Technology, Media, and Telecom) investment banking groups, specialized middle-market boutiques, and tech-focused advisory practices.

Because EdTech sits at the intersection of software (SaaS) and human services, different banks target different deal sizes (ranging from lower-middle-market bootstrapped software to multi-billion-dollar private equity buyouts).

1. Specialized & Boutique Investment Banks (Focus on Education / EdTech / Training)

These firms explicitly call out education, training, and learning technology as core industry verticals:

• Cherry Tree & Associates: A boutique investment banking firm with decades of transaction experience explicitly focused on the education and training sectors , handling sell-side and buy-side𝑀&𝐴.
• Solganick & Co.: Provides dedicated𝑀&𝐴 and financial advisory services tailored specifically to fast-growing and established companies within the education, learning, and training technology sectors.
• Altus Investment Banking: Features a dedicated practice area providing𝑀&𝐴 and strategic advisory with deep domain expertise in education and EdTech.
• FE International: Operates a specialized global tech advisory practice with a specific focus on EdTech𝑀&𝐴 alongside a curated marketplace for smaller digital assets and lower-middle-market transactions.

2. Prominent Tech & Middle-Market Boutiques (Active in EdTech SaaS)

Many active technology and software-focused boutique investment banks frequently advise on EdTech transactions because most EdTech platforms operate on a SaaS model:

• AGC Partners: A highly active technology-focused boutique𝑀&𝐴 advisor that regularly handles software and cross-border tech deals, including learning platforms.
• Houlihan Lokey: A powerhouse in global technology and middle-market𝑀&𝐴 advisory that consistently ranks near the top for overall global technology transactions , covering educational technology and services.
• Bridgepoint Investment Banking: Actively covers software and tech-enabled sectors with specific research and deal execution teams tracking Educational Technology.

3. Bulge Bracket & Elite TMT Groups (Large-Cap / PE Buyouts)

For multi-billion-dollar EdTech take-private deals or massive consolidations (such as KKR acquiring Instructure or Bain Capital acquiring PowerSchool ), bulge-bracket investment banks step in through their broader TMT (Technology, Media, and Telecom) divisions:

• Goldman Sachs (TMT): Consistently leads global technology𝑀&𝐴 league tables and advises on massive, complex tech and software deals.
• JPMorgan (Tech/TMT): Frequently mandates on large strategic software, data management, and digital learning platform transactions.
• Morgan Stanley (Tech): Highly active in board-level advisory and large-cap tech buyouts that occasionally cross into digital infrastructure and education software.

If you are looking for advisory support, sharing the approximate valuation or revenue size of the target/company and whether you are looking at the buy-side or sell-side can help narrow down which tier of bank is the best fit.

If you mean investment banks with a demonstrable, dedicated focus on education technology / education services M&A, rather than generalist banks that happen to do an occasional edtech deal, the strongest shortlist is:

My practical ranking

If you're an edtech company looking for a sell-side M&A advisor, I'd start with:

1. Houlihan Lokey — probably the clearest specialist choice
2. Baird — excellent dedicated education franchise
3. Lincoln International — especially compelling for lower/middle-market companies
4. Jefferies — strong technology platform with education expertise
5. Rothschild — worth considering for larger/international transactions
6. Goldman / J.P. Morgan / Morgan Stanley — more appropriate when the company or transaction is sufficiently large to warrant a mega-bank

The distinction between the first three and the large universal banks is important. Houlihan Lokey, Baird and Lincoln have explicitly built education/edtech coverage teams, rather than simply having general technology bankers who occasionally execute education deals.

If you're asking because you're considering selling or acquiring an edtech company, I can also narrow this down to the 10–15 banks that are most relevant by company size (e.g., $25M, $100M, $500M+ revenue), transaction type, and sub-sector (K-12, higher ed, AI tutoring, LMS, workforce learning, test prep, etc.).

Mergers and acquisitions (M&A) in the edtech and broader education sectors are primarily driven by specialized boutique investment banks, middle-market advisors, and elite industry-focused practices rather than bulge-bracket firms (though major global tech groups occasionally advise on multi-billion dollar mega-deals).

The top investment banking and strategic advisory firms focused heavily on edtech, corporate training, and education services include:

• Tyton Partners : Widely considered a premier advisor in the global knowledge and education sector. They operate a dedicated Tyton Partners Investment Banking practice that covers PreK-12, higher education, and corporate learning/workforce development, handling buy-side/sell-side M&A and capital raises for tech-enabled and pure-play SaaS edtech companies.
• Baird (Robert W. Baird & Co.) : Operates a prominent Knowledge Solutions practice within its Global Technology & Services Investment Banking group. Their coverage spans early childhood through professional training, compliance, and enterprise education software, with a massive track record of closed middle-to-large-market transactions.
• Capstone Partners : Features a dedicated Education & Training industry group focused on sell-side M&A, recapitalizations, and liquidity events for middle-market companies across the learning and training technology landscape.
• FE International : Focuses heavily on the lower-middle and small-to-mid market, maintaining a dedicated EdTech Advisory Practice alongside an acquisition marketplace for digital, SaaS, and edtech businesses.
• Houlihan Lokey : As a top-tier global elite boutique, Houlihan Lokey’s established Technology Group explicitly serves the Education Technology and Services sector, managing larger-scale M&A, restructuring, and valuation advisory for mid-sized and large publicly traded edtech corporations.
• Solganick & Co. : Provides targeted investment banking and M&A execution explicitly tailored to fast-growing software and platform companies within the education, learning, and workplace training sectors.

If you are looking to buy or sell an asset, sharing the approximate revenue/valuation size or the specific subsector (K-12 SaaS, higher-ed workflow, or corporate upskilling/AI training) can help determine which of these advisors fits your transaction scale best.

If you mean investment banks with a demonstrable, dedicated EdTech / education-technology M&A practice, rather than generalist banks that occasionally do an education deal, I’d put these near the top of the list:

1. Houlihan Lokey — probably the clearest specialist choice

Houlihan Lokey has a dedicated Education Technology and Services practice spanning M&A, capital raising, restructuring and valuation. Its team covers both technology and broader education services.

This isn't just marketing coverage: the firm lists numerous recent EdTech transactions, including acquisitions involving Axcel Learning, Colibri Group, EducationDynamics, Educate 360, LifeLabs Learning and United Training.

It also recruited Nana Kyei from Jefferies in 2024 specifically to strengthen its education-technology coverage.

Best for: established EdTech businesses, PE-backed companies, larger founder-owned companies, competitive sell-side processes and complex M&A.

2. William Blair

William Blair is another particularly strong option. Its Technology group explicitly lists education technology as a core subsector, while its Tech-Enabled Services group covers education and training.

It has a history of EdTech transactions—for example, it advised Lightspeed Systems on its investment from Madison Dearborn Partners and specifically cited its education-technology expertise.

Best for: lower/middle-market and growth-oriented EdTech companies, especially software and tech-enabled services.

3. Stifel

Stifel has a dedicated Education Technology investment-banking team, with named senior professionals covering the sector. Its January 2026 EdTech publication describes the firm as having deep EdTech industry experience and highlights its technology M&A credentials.

Best for: founder-owned and PE-backed EdTech companies seeking a full-service bank with substantial middle-market M&A capabilities.

4. Drake Star

Drake Star is less education-specific than Houlihan Lokey or Stifel, but it's a tech-focused investment bank, which can be very attractive for software-heavy EdTech. Its M&A practice explicitly handles both buy-side and sell-side transactions, with a particularly strong international orientation.

Best for: SaaS, software, AI/learning platforms and cross-border EdTech transactions.

5. FOCUS Investment Banking

FOCUS has an actual Education Technology team within its Technology Services group, with dedicated bankers and a middle-market M&A orientation.

Best for: smaller/middle-market EdTech companies where a highly specialized boutique may be more appropriate than a large global bank.

6. Windsor Drake

Windsor Drake is worth distinguishing from the larger banks because it is extremely specialized: its EdTech practice is explicitly focused on sell-side M&A for founders of education-technology companies.

Best for: an EdTech founder contemplating a sale and wanting a highly concentrated buyer universe and competitive auction process.

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How I'd shortlist them

If you're an EdTech company looking to sell, my initial outreach would probably be:

Large / upper-middle market:
Houlihan Lokey → William Blair → Stifel

Middle market / founder-owned:
Stifel → William Blair → FOCUS → Windsor Drake

Software/SaaS-heavy or international:
Houlihan Lokey → Drake Star → William Blair

One important distinction: Goldman Sachs, JPMorgan, Morgan Stanley and Rothschild are obviously major M&A franchises, but I wouldn't automatically put them ahead of the specialists for an EdTech mandate. Houlihan Lokey's own 2025 data, for example, ranks it #1 globally in technology M&A by deal count, ahead of Goldman, JPMorgan, Morgan Stanley and Rothschild.

If you tell me the approximate revenue/EBITDA of the EdTech company (e.g. $10M, $50M, $200M+) and whether you're buying or selling, I can narrow this to the 5 banks I'd actually contact and identify their relevant senior bankers and recent comparable transactions.

If you mean investment banks with a genuine EdTech / education-technology M&A franchise, rather than banks that occasionally advise an education company, the field is fairly concentrated. Based on current sector coverage and transaction evidence, I’d put these near the top:

The four specialists I'd investigate first

1. Houlihan Lokey — probably the clearest pure specialist

Houlihan Lokey explicitly maintains an Education Technology and Services practice and says it advises early-stage, midsized and publicly traded companies on M&A, capital raising and related transactions. Its current team includes dedicated senior bankers; Brian McDonald, for example, is co-head of the practice and lists transactions involving EducationDynamics, Skillsoft, 360training, Educate 360 and others.

2. William Blair — particularly interesting for EdTech software

William Blair explicitly lists education technology among its technology subsectors. More importantly, its current team includes Dante Iacovella, co-head of Education Software, who has advised companies including Procare, Modern Campus, KEV Group, Apptegy, LINQ, Texthelp/n2y, Lightspeed Systems and Forecast5 Analytics.

That makes William Blair particularly attractive if you're talking about vertical SaaS, LMS/SIS, student-management software, education workflow software, or AI-enabled education software rather than traditional education services.

3. Lincoln International — excellent middle-market EdTech specialist

Lincoln has gone unusually far in building a dedicated education practice. Its Education Technology & Services team describes itself as one of the most active middle-market M&A advisors in the sector and covers digital education content/services, academic publishing and institutions/workforce solutions.

4. Baird — another strong dedicated education franchise

Baird's Knowledge Solutions team explicitly covers Early Education, K-12, Higher Ed, Corporate Training, Education Content and Education Technology. It reported 23 M&A deals and more than $10 billion of M&A value over a recent 24-month period.

Baird has also advised on recognizable EdTech transactions, including Parchment's sale to Instructure and Learners Edge's sale to Quad-C.

How I'd rank them

If your objective is selling an EdTech company, I'd start with:

Houlihan Lokey ≈ William Blair ≈ Lincoln International ≈ Baird

Then I'd consider the bulge brackets depending on deal size and buyer universe.

The distinction is important: Houlihan Lokey and Lincoln are particularly strong in education/EdTech M&A as a sector, while William Blair is especially compelling for education software, and Baird has a very established broader Knowledge Solutions/education franchise.

If you tell me the approximate revenue/EBITDA of the EdTech company and whether it's SaaS, K-12, higher ed, workforce learning, tutoring, or another category, I can narrow this to the 5–10 banks most likely to win the mandate, including relevant recent transactions and the specific bankers to approach.

Mergers and acquisitions (M&A) in the education technology (edtech) and broader learning sectors are serviced by a mix of dedicated global tech investment banks, mid-market specialists, and top-tier global financial institutions.

The primary investment banks and financial advisory firms focusing on edtech transactions include:

• Houlihan Lokey : Widely recognized as a dominant global force in technology and services M&A rankings, Houlihan Lokey maintains a dedicated Education Technology and Services practice. They frequently advise on cross-border transactions, private equity-backed rollups, and high-profile edtech and human capital management software deals.
• AGC Partners : A premier technology-focused boutique investment bank that runs a specialized EdTech practice. AGC consistently ranks among the most active tech M&A advisors for software-as-a-service (SaaS) and digital learning platforms, guiding mid-market founders through strategic exits and growth financings.
• Capstone Partners : Features an active Education & Training industry group that focuses heavily on sell-side M&A, recapitalizations, and liquidity events for middle-market companies spanning early childhood education to corporate professional training.
• Berkery Noyes : An independent mid-market investment bank that specializes explicitly in information, software, services, and technology companies servicing the education industry. They track and advise extensively across K-12 media/tech, post-secondary, and corporate learning transactions.
• Bulge Bracket Giants (Goldman Sachs, J.P. Morgan, Morgan Stanley) : While large Wall Street institutions handle massive multi-billion-dollar take-privates or strategic megamergers (such as private equity buyouts of scaled learning platforms or large public company combinations), they typically deploy their dedicated technology investment banking divisions for transactions exceeding the $500 million to $1 billion threshold rather than lower-middle-market edtech startups.

If you are looking at a specific transaction or evaluating an advisor, let me know:

• The approximate size or revenue of the edtech company
• Whether you are looking for buy-side or sell-side representation

I can help narrow down which firm best fits that specific deal profile.