Buy, sell or partner in Indian education with a partner beside you.Education deal advisory: M&A, private equity and due diligence

We advise investors, school and university groups, foreign institutions and promoters on acquisitions, investments, sales and partnerships across schools, universities and education businesses in India. A MAS partner runs every mandate, from the first call to closing.

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Deal record
Selected deals and mandates
  • PearsonTutorVistaEdTech
  • LaureateUPES & Pearl AcademyHigher ed
  • BYJU'SWhiteHat JrEdTech
  • Adani GEMSBrown-field schoolsK-12
  • The International School of ThrissurForeign brand partnershipK-12
How we workPartner-led, start to finish
MAS Advisory
Partner-leda MAS partner runs every mandate
Education onlyK-12, higher education, EdTech and skilling
Both sidesbuy-side, sell-side and partnerships
Regulatory depthtrusts, societies, Section 8, UGC and GIFT City

Who we advise

Education deals in India rarely behave like ordinary corporate deals. Most institutions are not-for-profit, land is often the largest asset, and regulators sit at both state and central level. Our clients need that context built into the advice.

Investors

Private equity and family offices

We help with
Investment theses, target screening, diligence and exit planning
The real question
How to invest in a sector built on not-for-profit institutions
Acquirers

School and university groups

We help with
Brown-field acquisitions, management contracts and brand partnerships
The real question
Which schools to buy, at what price, and how to take control
Sellers

Promoters and owners

We help with
Sale readiness, information memoranda, buyer outreach and negotiation
The real question
What the institution is worth, and to whom
Entrants

Foreign schools and universities

We help with
Brand licensing, UGC joint ventures, GIFT City campuses and partner checks
The real question
Whether the Indian partner can be trusted with your name

What we do on a transaction

Clients engage us for a single stage or the whole deal. Either way, the same partner stays on the work throughout.

Deal strategy and targets

Investment thesis, market mapping, a short-list of targets and discreet approaches to promoters.

Valuation

Sustainable EBITDA, fee headroom, enrolment and land adjustments, tested against disclosed deals and listed benchmarks.

Due diligence

Commercial, operational and regulatory diligence: affiliation, approvals, academic quality, enrolment health and governance.

Structuring

Regulatory and structural design for deals involving trusts, societies and Section 8 companies, alongside your tax and legal advisers.

Sell-side advisory

Sale preparation, a confidential information memorandum, buyer identification and support through negotiation.

Post-acquisition support

Integration, rebranding, governance set-up and alignment of the academic and operating model after signing.

Specialist services

Six services for situations that ordinary deal advisers are not built for. Three are standard practice in global deal markets and still rare in Indian education. Three are built for how Indian institutions are owned, approved and funded.

Proven in global deal markets

Standard in the UK, US and Europe, now applied to Indian education.

Sale readiness and vendor due diligence

A 3 to 6 month programme before you go to market. We close the gaps in approvals, governance, enrolment data and land papers, then prepare an independent diligence pack that every bidder receives.

Who it's forPromoters and owners planning a sale or stake sale

Independent education adviser to lenders

Banks and NBFCs lending to schools and colleges, or funding sale-and-leaseback deals, get an independent view on whether enrolment, fees and approvals will hold up, with monitoring after disbursement.

Who it's forBanks, NBFCs and real estate investors

Buy-and-build programmes

For a fund or group building a regional school platform: the thesis, a target pipeline, one diligence standard for every deal and an integration playbook, so each school joins the same way.

Who it's forPrivate equity funds and growing school groups

Built for India

For how Indian schools and colleges are owned, approved and funded.

Change of trustees and succession

Many institutions change hands through a change of trustees or governing body, not a share sale. We advise on the governance, structure and regulatory steps, alongside your tax and legal advisers.

Who it's forFamily-run trusts and societies facing a founder exit or handover

Approvals continuity

CBSE or CISCE affiliation, state NOCs, and UGC or AICTE approvals must survive a change of management. We map every approval at risk, sequence the filings and manage them as conditions before closing.

Who it's forBuyers, sellers and incoming managements

Social capital for not-for-profits

Our CSR and deal practices combined: CSR funding, the Social Stock Exchange zero coupon zero principal (ZCZP) route and blended finance, raised without giving up not-for-profit character.

Who it's forTrusts, societies, Section 8 institutions and CSR teams
New

Partner Due Diligence for foreign schools and universities

Know your Indian partner before your name goes on the gate. Independent diligence on Indian promoters, joint-venture partners and GIFT City service providers, acting only for the foreign institution. Three tiers, fixed fees.

Which fees would you like to see?

Tier 1, 4 weeks

Red-Flag Screen

Promoter, integrity and reputational due diligence

USD 5,000

Fixed fee for schools

“Should we keep talking?”

  • Fully discreet: we never contact the promoter
  • Ownership, control and beneficial owners
  • Litigation, sanctions and adverse media
  • Go, Caution or Stop verdict
EnquireFull scope
Recommended for licensing decisions Tier 2, 8 weeks

Partner Assessment

Enhanced due diligence

USD 12,500

Fixed fee for schools

“Is this the right partner?”

  • Everything in Tier 1, in more depth
  • Two partner-led promoter meetings
  • Visits to existing institutions
  • Scored report for your governors
EnquireFull scope
Tier 3, 12 weeks

Comprehensive Diligence

Full-scope due diligence

USD 25,000

Fixed fee for schools

“Can we sign, and on what terms?”

  • Everything in Tier 2
  • Legal, title and financial due diligence
  • Regulatory approvals roadmap
  • Conditions-to-signing schedule
EnquireFull scope

Partner Monitoring, after you sign

Quarterly re-screening of your Indian partner, an alert within 5 working days of anything material, and an annual partner-led check-in. Available after Tier 2 or 3.

Add-onUSD 3,000per partner, per year

Fees are fixed, quoted in US dollars and exclusive of applicable taxes and travel. See the full scope, deliverables and FAQs on Partner Due Diligence.

Mandates

Acquisitions, brand partnerships and structuring work MAS Advisory has delivered for school operators in India.

Buy-side advisor

Adani GEMS International

Acquisition of brown-field schools across Tier 1 and Tier 2 cities

Brand partnership and growth

The International School of Thrissur

Foreign brand partnership and growth advisory services

Buy-side advisor

Large UK-based education fund

Acquiring international schools in Faridabad and Noida

Brand partnership

GEMS International School

Brand licensing rights secured across three schools in India

Structure and governance

Large school operator, Southern India

Structure, compliance and layering across ten schools

Structure and governance

Foreign-owned school chain, West and South India

Structure, compliance and layering across three schools

Clients on blue cards are described without names to protect confidentiality.

From first call to closing

  1. Confidential call

    Tell us what you are weighing up. We set out the options and what each would take.

  2. Conflict check and scope

    We confirm we do not act for the other side, then issue a clear engagement letter.

  3. Analysis and fieldwork

    Research, site visits, discreet enquiries and management meetings, with regular status calls.

  4. Recommendation and close

    A signed recommendation, board material and support through negotiation and closing.

Our research on education deals

Analysis from MAS Advisory Insights on the questions investors and institutions ask us most.

Private equityWhy private equity is buying Indian school chains, not just EdTech Private equityHow private equity invests in India's non-profit schools ExitsAfter PhysicsWallah and Elevate: how private equity exits Indian education ValuationWhat is an Indian school worth? The disclosed multiples ValuationValuing an Indian K-12 or higher education institution StructuringHow foreign investors actually structure education deals in India Real assetsWhy institutional land is a distinct asset class in India AcquisitionsHospital chains vs school chains: a costly comparison

Questions

Something not covered here? Ask us in confidence.

Can a private equity fund invest in an Indian school?
Indian K-12 schools are generally run by not-for-profit trusts, societies or Section 8 companies, so investors do not usually hold equity in the school itself. Investment typically goes into companies that provide services, infrastructure or brand to schools, under arrangements that must respect state education rules and board affiliation norms. We advise on the regulatory and structural side of these arrangements. Read how private equity invests in India's non-profit schools.
How is an Indian school valued?
Most school transactions are priced on a multiple of sustainable EBITDA, adjusted for enrolment trends, fee headroom, land and lease terms, regulatory standing and the structure through which cash can lawfully flow. Disclosed Indian datapoints are few, so each valuation needs triangulation. See the disclosed multiples.
What does partner due diligence cost?
Three fixed fees: a 4-week Red-Flag Screen (USD 5,000 for schools, USD 8,500 for higher education), an 8-week Partner Assessment (USD 12,500 or USD 20,000) and a 12-week Comprehensive Diligence (USD 25,000 or USD 40,000). Fees exclude taxes and travel. See the full scope.
Do you advise sellers as well as buyers?
Yes. On the sell side we prepare confidential information memoranda, identify and approach suitable strategic and financial buyers, and support the promoter through negotiation and diligence.
Is the engagement confidential?
Yes. Every mandate starts with a conflict check, and the engagement, the parties and our findings stay confidential. Clients who prefer not to be named are always described without names.
Can you help with a change of trustees or a founder handover?
Yes. Many Indian schools and colleges change hands through a change of trustees or governing body rather than a share sale. We advise on the governance, structural and regulatory steps, including keeping affiliations and approvals intact, and work alongside your tax and legal advisers.
Do you give tax opinions?
No. MAS Advisory is not a tax advisory firm. We advise on commercial, regulatory and structural aspects and work alongside your tax and legal advisers.

Tell us what you are weighing up.

We reply personally within 2 working days, and every conversation stays confidential. MAS Advisory is partner-led, start to finish.

WhatsApp
+91 96671 92823 Email
partnerships@myedge.in

We respond within 2 working days.