L.E.K. Consulting’s latest analysis examines how Education M&A activity in North America is evolving in 2025 and what structural themes are shaping investment priorities for 2026. Drawing on transaction data and sector research, the report assesses momentum across K-12, higher education, professional upskilling and corporate training.
Following COVID-19-driven investment peaks in 2021-22, the volume of Education investments has grown year-over-year since 2023’s low. While 2025 M&A value was lower than 2024, this was driven was by a handful of 2024 mega deals – in fact, disclosed investment value for deals under $1B increased in 2025, reflecting both continued investor confidence in the sector and strategic acquisition activity.
As we look toward 2026, a number of key themes emerge:
- K-12 leaders are consolidating their technology ecosystems in response to rapid tool proliferation. The average number of edtech platforms used per district grew at roughly 23% CAGR in recent years, prompting a shift toward more integrated and interoperable systems, which creates both opportunity and risk depending on where you sit in the ecosystem.
- School choice expansion continues, with 33 state-level programs and OBBB creating tailwinds for private education and the providers that service that ecosystem Skilled trades are an area of investor focus given workforce demand, perceived AI defensibility and increasing focus on alignment of education to employment.
- Professional upskilling and reskilling take center stage as employers and professionals alike respond to changing workforce needs in the age of AI. However, certain business models are better positioned to succeed than others.
- AI adoption across the education ecosystem is advancing steadily but remains at an early stage of maturity. Education represents about 2% of global AI-centric systems spending today, underscoring both measured uptake and meaningful long-term headroom
Download the full analysis to explore the detailed trends and understand how investors and operators are positioning for growth in 2026.
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