Now Education has successfully completed a management buyout led by co-founder Alex Westworth, with £14 million investment from Prefequity LLP, valuing the company at £28 million and paving the way for future growth.
Information on the Target
Now Education, established in 2010, stands as one of the United Kingdom's foremost providers of staffing solutions for primary, secondary, and special educational needs (SEND) schools across England and Wales. The company supplies approximately 1,600 educators weekly to over 800 educational institutions, operating in more than 20 regions with permanent offices located in Birmingham, Cardiff, Leeds, Lincoln, Liverpool, London, and Nottingham. Now Education's workforce consists of nearly 40 consultants and ten back-office support staff, generating a robust 95% of its revenue from contract engagements, with more than 75% of placements being for six weeks or longer.
Industry Overview in the UK
The education sector in the UK has experienced significant transformational changes in recent years, particularly in response to evolving curricular demands and increased government scrutiny over educational standards. Staffing services for schools have become increasingly crucial as educational institutions seek qualified professionals to meet diverse student needs, particularly in the wake of staffing shortages exacerbated by the pandemic.
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In the UK, the recruitment sector for educational staff is marked by intense competition, with numerous agencies vying to support schools in their staffing challenges. Thi
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Alex Westworth
invested in
Now Education
in 2024
in a Management Buyout / Buy-In (MBO) deal
Disclosed details
Transaction Size: $17M
Revenue: $10M
EBITDA: $5M
Enterprise Value: $35M
Equity Value: $17M
Multiples
EV/EBITDA: 7.2x
EV/Revenue: 3.5x
P/Revenue: 1.7x