Education Acquisitions in Canada

Vertu Capital announced a strategic investment in LumiQ Inc., a Toronto-based corporate education platform providing accredited professional development content for accounting and finance professionals. The investment is Vertu Capital’s fourth platform investment under Vertu Partners Fund I and is intended to support LumiQ’s continued growth in North America and internationally.

We Know Training acquired Fleet Safety International (FSI), a provider of online driver education and in-vehicle training solutions. The transaction, advised by Generational Group, closed on June 10, 2024, and expands We Know Training’s offerings into the driver safety training market.

HMH acquired Quebec-based education technology company Classcraft to add Classcraft’s engineering team and engagement-focused product functionality to HMH’s learning technology offerings. Classcraft will continue to be available to current users for the 2023–2024 school year, with existing school and district contracts honored. HMH is a portfolio company of Veritas Capital.

Training The Street (TTS) acquired The Marquee Group, a Canada-based provider of financial modeling training and consulting, in TTS’s second add-on acquisition in as many years. The deal was funded with support from Charlotte-based private equity firm Falfurrias Capital Partners, which acquired TTS in June 2021; transaction terms were not disclosed.

Paper, an Educational Support System (ESS) provider, acquired Readlee, an AI- and speech-recognition-based reading tool designed to improve student literacy. Readlee will be rebranded as Paper Reading and fully integrated into Paper’s ESS to expand access to reading practice and feedback for millions of students.

Clearspring Capital Partners and OneLink Capital announced an investment in Groupe Tecnic 2000 and École de conduite Tecnic Rive-Nord, the largest network of driving schools in North America and its largest franchisee, respectively. The Sévigny family will remain a major shareholder and key executives will stay with the organization, with the investment supported by the financial participation of BDC Growth Equity Partners.

Savvas Learning Company acquired Rubicon Publishing, Inc., a Canadian K-12 digital learning company best known for its all-digital MathUP math program. The acquisition expands Savvas’s next-generation K-12 offerings and strengthens its presence in the Canadian digital learning market.

Junction Consulting and Jelly Digital Marketing & PR teamed up to acquire ELearningU, described as North America’s largest digital tourism school and online education platform for tourism marketing. Headquartered in Nova Scotia, ELearningU provides online training content and a tourism digital marketing certificate program, and the deal is described as the first major acquisition for both buyers.

legio X, a search fund led by Vanessa Iarocci and backed by Sage Capital Partners Inc., has acquired Brain Power Enrichment Programs Ltd.; financial terms were not disclosed. Following the transaction, Iarocci will become CEO and co-own the business, with Sage providing growth equity to support expansion beyond the Greater Toronto Area across North America.

BERKS Group, a Bradley-family-led investment office, announced an investment in Trualta, a fast-growing online education platform for family caregivers delivering clinically validated training. The funding will support Trualta’s growth, including expanding sales and marketing efforts (especially in the United States) and investing in new content and platform capabilities.

Think Research Corporation has entered into a definitive share purchase agreement to acquire 100% of MDBriefCase Group Inc., an online continuing medical education and professional development provider for clinicians. The consideration includes approximately CAD $24 million in Think Research common shares and about CAD $1.3 million in cash, with potential additional deferred share consideration tied to post-close milestones. MDBriefCase is described as a portfolio company of Persistence Capital Partners, whose affiliated funds (along with management) are selling their shares.

KEV Group, backed by Serent Capital, has acquired Lunchbox Orders, an online ordering platform that helps K-12 schools manage lunch programs and fundraising through paperless, cashless transactions. The deal expands KEV Group’s SchoolCash suite further into lunch management and fundraising, with plans to scale Lunchbox Orders across Ontario and beyond.

Birch Hill Equity Partners made an investment in Yorkville Education Company, the parent of Yorkville University and Toronto Film School. Origin Merchant Partners served as exclusive financial advisor to Yorkville on the transaction.