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

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.

When looking at Mergers and Acquisitions (M&A) in the edtech (education technology) and broader knowledge sector , the advisory landscape is dominated by specialized, sector-focused boutique investment banks and middle-market tech groups rather than traditional bulge-bracket Wall Street firms.

The top investment banks and advisory firms specializing in or actively executing M&A deals in the edtech sector include:

• Tyton Partners : A premier strategy consulting and investment banking firm dedicated explicitly to the global knowledge and education sector. They regularly advise on high-profile M&A transactions across K-12, higher education, corporate training, and edtech SaaS. You can read more about their active deals on the Tyton Partners Investment Banking page.
• Capstone Partners : Features a dedicated Education & Training investment banking team that focuses heavily on sell-side M&A, recapitalizations, and capital raises in the edtech and human capital space.
• FE International : A specialized global M&A advisor and valuation firm focusing on mid-market SaaS, e-commerce, and edtech businesses; they handle private sales and acquisitions for growing software platforms.
• Nfluence Partners : A technology-focused middle-market investment bank with dedicated coverage of the EdTech sector, application SaaS, and digital learning tools.
• Houlihan Lokey : As a top elite boutique, their active Technology Group features dedicated coverage of the education technology and services sector, frequently publishing market updates and advising larger mid-to-large cap transactions.
• Berkery Noyes : An independent middle-market investment bank that provides M&A advisory specifically tailored to the information industry, which includes a dedicated practice area for Berkery Noyes Education Industry M&A software and digital content.
• Solganick & Co. : Provides specialty investment banking and M&A advisory centered on software, IT, and edtech/learning management systems.

Watch this short breakdown discussing how shifting market dynamics and technology trends influence valuation and consolidation in the digital learning ecosystem:

If you are planning an M&A transaction or valuation, let me know:

• Are you looking on the buy-side or sell-side?
• What is the approximate transaction size or revenue tier of the target company?

If you're looking for advisors with meaningful experience in education technology (EdTech) mergers and acquisitions, there are a handful of firms that stand out. Some are large global investment banks with dedicated education teams, while others are specialist boutiques that focus almost exclusively on education and learning technology.

Tier 1: Dedicated EdTech specialists

Houlihan Lokey

• Widely regarded as one of the most active advisors in education technology.
• Has a dedicated Education Technology & Services practice.
• Advises strategic buyers, founders, and private equity sponsors.
• Recent experience includes transactions involving companies such as Becker Professional Education, OnCourse Learning, 360training, Teachers of Tomorrow, and EducationDynamics.

Tyton Partners

• One of the few firms focused almost entirely on education.
• Advises across:
  • K–12
  • Higher education
  • Workforce learning
  • Corporate learning
  • Education software
• Particularly strong for founder-owned EdTech businesses.

Strong middle-market advisors

Stifel

• Has dedicated coverage of Education Software & Services within its technology group.
• Advises on:
  • Sell-side M&A
  • Buy-side M&A
  • Growth capital
  • IPOs
• Covers early childhood, K–12, higher education, certification, and corporate learning.

Capstone Partners

• Education & Training team has completed dozens of education transactions.
• Strong across:
  • eLearning
  • Professional training
  • Postsecondary
  • K–12
• Particularly active in middle-market deals.

Software-focused banks with EdTech expertise

These firms are broader technology advisors but regularly work on education software:

• Solganick & Co. — dedicated EdTech and Learning Technology practice with regular sector reports and transaction experience.
• Hyde Park Capital — advises vertical software businesses, including learning management, credentialing, and education software.
• Bridgepoint Investment Banking — technology practice covering EdTech among other vertical software sectors.

Bulge-bracket firms

For transactions above roughly $500 million–$1 billion, large global banks frequently lead deals, including:

• Goldman Sachs
• JPMorgan Chase
• Morgan Stanley
• Rothschild & Co

These firms are active in larger software and education transactions, although they generally do not maintain the same degree of sector specialization as dedicated education boutiques.

Which advisor fits your situation?

• Under $50M enterprise value: Boutique education specialists (Tyton Partners, Solganick & Co., niche education advisors)
• $50M–500M: Houlihan Lokey, Stifel, Capstone Partners
• $500M+: Houlihan Lokey plus bulge-bracket firms such as Goldman Sachs, JPMorgan, or Morgan Stanley

If your company is AI-native EdTech, vertical SaaS for schools, workforce learning, or higher education technology, advisor selection can vary because buyer universes and valuation drivers differ across those subsectors.

Mergers and acquisitions (M&A) in the education technology (edtech) and broader knowledge sectors are primarily handled by specialized middle-market boutique investment banks, industry-specific advisory firms, and large global technology groups rather than standalone "edtech-only" bulge brackets.

The key advisory firms and investment banks with dedicated practices or strong track records in edtech M&A include:

• Berkery Noyes : An independent mid-market investment bank based in New York City focusing heavily on the education, information, software, and technology sectors. They regularly publish comprehensive M&A trend reports for the education and edtech marketplace.
• Capstone Partners : Features a dedicated Education & Training investment banking practice covering EdTech, learning management systems, online program management, and corporate/professional training. They are one of the most active advisors for mid-market liquidity events and sell-side M&A in this vertical.
• FE International : A specialized global M&A advisor and valuation firm with a dedicated EdTech practice, focusing on mid-market and lower-middle-market software-as-a-service (SaaS) and digital education businesses.
• Houlihan Lokey : As a top global technology M&A advisor, they cover Education Technology and Services within their broader TMT (Technology, Media, and Telecom) group, handling larger upper-middle-market and multi-billion-dollar transactions.
• Tyton Partners : A hybrid strategy consulting and investment banking firm that centers entirely on the global "knowledge sector," spanning education, edtech, media, and information markets.
• Nfluence Partners : A boutique investment bank operating out of San Francisco and New York that advises businesses at the intersection of technology and the broader economy, including specialized edtech and capital formation transactions.
• Solganick & Co. : Provides M&A and strategic financial advisory services specifically targeting fast-growing and established companies within the education, learning, and training technology sectors.

If you are evaluating these firms for a specific transaction, let me know:

• Are you looking on the sell-side or buy-side?
• What is the approximate revenue or enterprise value of the target company?

I can help narrow down which specific advisory model fits your scale best.

If you're looking for investment banks that are active in mergers and acquisitions (M&A) involving education technology (EdTech), they generally fall into three categories: global banks that handle large strategic deals, middle-market firms with dedicated education practices, and boutique advisors focused on education.

Leading middle-market advisor

Houlihan Lokey is widely regarded as one of the strongest advisors for education and learning businesses. It has a dedicated Education Technology & Services practice covering:

• K-12 software
• Higher education technology
• Professional education
• Workforce learning
• Corporate training platforms
• Education services

The team has advised on transactions involving companies such as Becker Professional Education, OnCourse Learning, Skillsoft, Teachers of Tomorrow, Colibri, and 360training.

Boutique firms specializing in education

Several boutiques focus almost exclusively on education and EdTech:

• Educated Ventures combines investment banking with direct investing in education companies, making it attractive for venture-backed founders and growth-stage businesses.
• Ithron advises SaaS, recurring-revenue, digital media, and EdTech companies, particularly founder-led businesses.
• Augusta Brokerage Partners concentrates on the education economy, including EdTech, tutoring, workforce training, childcare, and higher education services.
• ONEtoONE Corporate Finance has an international education M&A practice covering digital learning, training, schools, and corporate education.

Larger investment banks

For large strategic acquisitions or public-company transactions, the major global investment banks remain active advisors, although they generally do not have standalone EdTech groups:

These firms typically advise on billion-dollar technology or education transactions where EdTech is one component of a broader technology or services practice.

Other firms with relevant experience

Additional advisors that regularly work on software and education-related transactions include:

• Hyde Park Capital (vertical software and EdTech)
• SC&H Capital (middle-market software and education deals)
• Solganick & Co. (publishes EdTech M&A research and advises learning technology companies)

If you're an EdTech founder seeking a sale, firms like Houlihan Lokey, Berkery Noyes, Ithron, or Educated Ventures are often a strong fit depending on company size. For private equity-backed platforms or transactions exceeding several hundred million dollars, larger firms such as Goldman Sachs, Morgan Stanley, J.P. Morgan, and Bank of America are more commonly engaged.