Education is a resilient asset. Returns depend on how it is run.
The investment case for education
Education has become one of the most resilient asset classes in the market. Demand is structural and often counter-cyclical, revenue recurs, and in many markets supply lags well behind demand. Well-run international schools generate EBITDA margins of 25 to 35% and trade at 8 to 17 times earnings. Those returns are not automatic. They depend on how the school is structured, built, and run, and that is where most investors need a partner. Our thinking on the numbers is set out in our guides to EBITDA benchmarks and how to value a school.
An operating partner, not just an adviser.
Investment advisory
Before capital is committed, we pressure-test the case: market and demand analysis, financial modelling, site and regulatory review, and deal structure. The output is a decision grounded in real numbers, not optimism.
Mergers and acquisitions
We advise on both sides of school transactions. On the buy side, we source, value, structure, and run diligence on acquisitions. On the sell side, we prepare a school for sale and position it for full value, because a well-run school with clean reporting is a far easier asset to sell. If you are weighing an acquisition or a sale, this is often the most valuable conversation we have. See our analysis of valuation and exit strategies.
Development and management
The return is made in the operation. We build schools from concept to opening and run them under long-term agreements, so the case we model is the one we deliver. See school development and school management.
more than 60 school and education projects across 28 countries.
GSE’s mandates include a GCC government-backed sovereign fund, government entities, private equity, family offices, and established school groups, across the GCC, Asia-Pacific, Africa, Europe, and the Americas. Client names remain confidential. References are available on request.