REAL ESTATE Adobestock 266037723 LR

Merger Watch summary (June 2025)

07 Jul 2025

Merger and acquisition activity in the independent schools sector has surged in 2024/25, marking an exceptional year.


The number of transactions we have advised on have climbed from 31 in 2021/22 to 39 in 2022/23, then 46 in 2023/24, and already 66 in 2024/25, with more expected. We have advised on 20 of the 23 announced deals between January and May 2025, including an unprecedented 12 transactions completed or exchanged within just two weeks after Easter.

This sharp rise reflects a broader shift: mergers are no longer a last resort but a mainstream strategic choice. Schools are proactively pursuing partnerships to secure long-term sustainability, expand provision, and reduce dependence on fee income.

Key trends include:

  • Mainstream adoption: Senior schools are actively seeking mergers to achieve scale and strengthen pipelines.
  • Diverse deal structures: Increased crossover between charitable and commercial entities, reflecting pragmatic, mission-driven thinking.
  • Financial diversification: More schools are acquiring commercial operations—such as nurseries or activity centres—to build resilience in a challenging economic environment.

If you would like to discuss your strategic options please do contact Siân Champkin in our Independent Schools team.

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