William Blair Case Competition Finalist Fall 2017Luke Bakies
This document provides an executive summary and valuation analysis of Patterson Education Group (PEG). Key points:
- PEG offers a unique personalized high school experience and is projecting strong revenue and EBITDA growth through 2021.
- Valuation analyses including precedents, comparables, and DCF methods value PEG between $187-300 million.
- Growth opportunities exist through expanding in new US markets and internationally as demand for alternative schooling increases. PEG also has technological advantages that could be further developed.
- Patterson Education Group is a scalable education platform delivering exceptional student outcomes through individually tailored curriculums and a talented executive team.
- Valuation analysis values PEG's enterprise value between $157-$177 million based on comparable, precedent, and discounted cash flow analyses.
- The recommendation is to pursue a sale to a strategic buyer given industry consolidation trends and PEG's compelling growth profile and market position.
Delta Force Consulting Board Presentation 06 021RSIQUEIRA
The Faculty of Business at Maple University is facing declining financial performance and decreasing enrollment share. It was mandated to develop growth strategies. The recommended strategy is to reposition the Faculty by focusing on its strengths in accounting, introduce new programs, develop new revenue sources through fundraising and a research center, enhance marketing, and construct a new building to support future growth. This strategy aims to provide sustainable growth and meet the Board's targets.
William Blair Investment Banking Case Competition Jake White
Performed comprehensive strategic analysis for a fictitious educational services provider to identify and evaluate potential exit opportunities that would position the company for strong future expansion. Constructed public comparables, precedent transactions, discounted cash flow and leveraged buyout analyses to form a valuation range.
The document outlines a business plan to provide financing and educational services to private K-12 schools in India, including unsecured and secured loans, annual fee discounting, teacher training programs, and student talent tests. It analyzes the market opportunity in India's large private K-12 sector, presents products and services, provides financial projections, and introduces the founding team. The business aims to address financial and educational needs of private schools serving over 100 million students across India.
This document provides an analysis of Patterson Education Group (PEG) for a case competition. It includes:
- An executive summary that outlines PEG's unique personalized high school model and strong projected growth rates.
- An industry overview of the growing K-12 education sector and education technology industry.
- An analysis of PEG's business model, growth opportunities, and financial projections. Strengths include barriers to entry and technological advantages.
- A valuation of PEG using precedent transactions, comparable company analyses, and a discounted cash flow model, resulting in an estimated valuation range of $170-300 million.
- A discussion of strategic options such as organic growth through new schools and technology expansion, or
The Pearson Affordable Learning Fund (PALF) makes minority equity investments in for-profit companies to meet a growing demand for affordable education services across the developing world. Extensive market research has shaped our belief that we need both efficient public and private education actors working in tandem, if we are ever to achieve ‘Education For All.’ This ppt it an overview of the fund strategy and our investments.
This document discusses tools and techniques for performing an external audit to analyze key external factors that could impact a company's strategy. It describes Porter's Five Forces model and how to use an External Factor Evaluation Matrix and Competitive Profile Matrix to evaluate opportunities and threats in the external environment. The external audit process involves gathering information on economic, social, political, technological and competitive trends to identify important external variables for strategic planning.
William Blair Case Competition Finalist Fall 2017Luke Bakies
This document provides an executive summary and valuation analysis of Patterson Education Group (PEG). Key points:
- PEG offers a unique personalized high school experience and is projecting strong revenue and EBITDA growth through 2021.
- Valuation analyses including precedents, comparables, and DCF methods value PEG between $187-300 million.
- Growth opportunities exist through expanding in new US markets and internationally as demand for alternative schooling increases. PEG also has technological advantages that could be further developed.
- Patterson Education Group is a scalable education platform delivering exceptional student outcomes through individually tailored curriculums and a talented executive team.
- Valuation analysis values PEG's enterprise value between $157-$177 million based on comparable, precedent, and discounted cash flow analyses.
- The recommendation is to pursue a sale to a strategic buyer given industry consolidation trends and PEG's compelling growth profile and market position.
Delta Force Consulting Board Presentation 06 021RSIQUEIRA
The Faculty of Business at Maple University is facing declining financial performance and decreasing enrollment share. It was mandated to develop growth strategies. The recommended strategy is to reposition the Faculty by focusing on its strengths in accounting, introduce new programs, develop new revenue sources through fundraising and a research center, enhance marketing, and construct a new building to support future growth. This strategy aims to provide sustainable growth and meet the Board's targets.
William Blair Investment Banking Case Competition Jake White
Performed comprehensive strategic analysis for a fictitious educational services provider to identify and evaluate potential exit opportunities that would position the company for strong future expansion. Constructed public comparables, precedent transactions, discounted cash flow and leveraged buyout analyses to form a valuation range.
The document outlines a business plan to provide financing and educational services to private K-12 schools in India, including unsecured and secured loans, annual fee discounting, teacher training programs, and student talent tests. It analyzes the market opportunity in India's large private K-12 sector, presents products and services, provides financial projections, and introduces the founding team. The business aims to address financial and educational needs of private schools serving over 100 million students across India.
This document provides an analysis of Patterson Education Group (PEG) for a case competition. It includes:
- An executive summary that outlines PEG's unique personalized high school model and strong projected growth rates.
- An industry overview of the growing K-12 education sector and education technology industry.
- An analysis of PEG's business model, growth opportunities, and financial projections. Strengths include barriers to entry and technological advantages.
- A valuation of PEG using precedent transactions, comparable company analyses, and a discounted cash flow model, resulting in an estimated valuation range of $170-300 million.
- A discussion of strategic options such as organic growth through new schools and technology expansion, or
The Pearson Affordable Learning Fund (PALF) makes minority equity investments in for-profit companies to meet a growing demand for affordable education services across the developing world. Extensive market research has shaped our belief that we need both efficient public and private education actors working in tandem, if we are ever to achieve ‘Education For All.’ This ppt it an overview of the fund strategy and our investments.
This document discusses tools and techniques for performing an external audit to analyze key external factors that could impact a company's strategy. It describes Porter's Five Forces model and how to use an External Factor Evaluation Matrix and Competitive Profile Matrix to evaluate opportunities and threats in the external environment. The external audit process involves gathering information on economic, social, political, technological and competitive trends to identify important external variables for strategic planning.
SOMOS Educação is the largest K-12 education platform in Brazil. It has various business units including K-12 educational solutions, proprietary schools and language learning. It operates 28 schools with over 19,000 students and has a leading position in the Brazilian textbook market through the PNLD program. The company aims to transition to long-term contracts for its educational materials to increase revenue resilience and client retention. It focuses on expanding early childhood education which has better market fundamentals.
This document discusses how school districts can continue improving teaching quality during tough economic times. It recommends that districts rethink how they spend money on professional development by aligning spending with long-term strategies, reallocating funds from non-strategic areas, and ensuring internal practices support teaching quality goals. Stimulus funds should support sustainable reforms rather than ongoing costs.
2017 William Blair & Company Investment Banking Case Competition - FinalistIan Socrates
- Patterson Education Group is a scalable education platform delivering exceptional student outcomes through individually tailored curriculums and a talented executive team.
- Valuation analysis values PEG's enterprise value between $157-$177 million based on comparable, precedent, and discounted cash flow analyses.
- The recommendation is to pursue a sale to a strategic buyer given industry consolidation trends and PEG's compelling growth profile and market position.
The document provides an overview of Aspen Group, Inc., a publicly traded online university. It discusses Aspen's business model, competitive advantages, and financial projections. Key points include:
- Aspen focuses on graduate degree programs like MBAs and MSNs, which have higher completion rates and salaries than undergraduate programs.
- Their low tuition rates and in-house student acquisition model help keep costs down compared to competitors.
- Projections estimate growing student enrollment from 2,300 in 2013 to 5,000 in 2015, with revenues increasing from over $4 million to over $11 million in that period.
- Aspen expects to break even on an adjusted EBITDA basis around 2,500 students and achieve
This document discusses strategic enrollment planning at USM. It begins by looking back at USM's history and financial situation from 2000-2005 and 2006 strategic plan which focused on health sciences and fiscal stability. Enrollment in health sciences programs like nursing, DPT and HIM grew steadily. Total enrollment increased 46% from 2005-2012 through initiatives like online programs. The endowment grew significantly.
The document then discusses the current environment including MOOCs and their promises and challenges. Strategic enrollment planning is presented as crucial for understanding the changing landscape of factors like slowing enrollment growth and demographic shifts. Recommendations are made to consider key questions and priorities for strategic enrollment planning like improving retention, determining program demand, and introducing new
Morgan Santley 11th Annual Latin American Conference PresentationEstácio Participações
The document discusses the Brazilian post-secondary education sector and Estácio Participações, the largest player in the private post-secondary sector in Brazil. It notes the sector has high growth potential due to low penetration rates and increasing demand. Estácio has a national footprint of 77 campuses and over 205,000 students. It discusses Estácio's growth strategies including organic growth, acquisitions, distance learning, and efficiency gains.
The document discusses competitive dynamics and competitor analysis. It provides a comprehensive model of global competitive dynamics that considers industry-based, resource-based, and institutional-based perspectives. Industry-based perspectives focus on factors that enable collusion between firms, such as concentration, product homogeneity, and entry barriers. Resource-based perspectives examine how a firm's valuable and rare resources can provide competitive advantages. Institutional perspectives look at how formal institutions like antitrust policies govern competition domestically and internationally through rules around pricing, dumping, and export cartels.
This document provides information and instructions for several financial analysis assignments. It includes:
1. Instructions to calculate ratios for a company's balance sheet and income statement and compare to industry averages.
2. Questions about implementing a cash management system and calculating potential interest earnings.
3. Multiple questions calculating present and future values of cash flows using time value of money concepts.
4. Questions calculating a company's weighted average cost of capital and evaluating capital budgeting projects.
The document contains detailed information and calculations required to complete various financial analysis assignments on topics like ratio analysis, time value of money, cost of capital, and capital budgeting.
WSJ Hay Group 2014 CEO compensation studySteve Sabow
- CEO pay increased in 2014, with total compensation rising 4.1% to $3.7 million and long-term incentive grants increasing 5.6% to $8.1 million. Companies made changes to pay mixes, increasing the portion tied to performance in response to shareholder feedback.
- Shareholder returns were strong in 2013 and solid in 2014, with total shareholder returns of 34.6% and 16.6% respectively. Company financial performance also increased, contributing to higher CEO pay.
- Shareholders continue to prefer more compensation being tied to long-term performance, leading to performance awards becoming the largest part of the pay mix for CEOs.
This document provides an overview and guidance for teaching the AL Business Studies 9707 unit on finance and accounting. It outlines the recommended prior knowledge, context, and learning outcomes for six topics: sources of finance, forecasting cash flows, costs, accounting fundamentals, analysis of published accounts, and investment appraisal. For each topic, it suggests introductory activities and case studies from the endorsed textbook. It emphasizes applying the topics to real-world business decision making and developing students' analytical and evaluative skills.
Demonstrating the Application of Design Thinking Methodology in MBA Fieldwork...ACBSP Global Accreditation
The document discusses applying design thinking methodology to MBA fieldwork consulting projects. It provides an overview of design thinking and the design thinking process. It then summarizes a fieldwork consulting project where MBA students used design thinking to help a Parent Teacher Association address the problem of increasing tardiness at an elementary school after busing was eliminated. The students empathized with stakeholders, defined the problem, ideated solutions, created and tested a prototype traffic flow solution, and benchmarked other university fieldwork programs.
This document provides an abstract for a study that aims to determine if public listed companies on the Malaysian stock exchange use sustainability accounting and reporting to legitimize themselves to stakeholders by reporting on the Social Cost of Carbon. The introduction provides background on the growth of sustainability reporting and the Global Reporting Initiative framework. The study objectives and research questions are outlined, along with a literature review on sustainability accounting approaches and the theoretical framework of legitimacy theory. A conceptual framework is proposed with hypotheses about how different types of sustainability reporting can lead to organizational legitimacy. The proposed methodology is to examine sustainability reports of 200 public companies over 15 years to test these hypotheses. The significance and anticipated findings are that reporting the social cost of carbon can help companies plan strategically and be sustainable
Leading Learning to Create Economic Power and Value
By continuously learning, faster than competitors, and applying the right strategies at the right times, organizations have a sustainable competitive advantage. To create such a climate, leaders must ask themselves a serious question: “How can I dramatically increase my organization’s ability to learn?”
The document summarizes a study on CEO incentive compensation plans among 600 large, mid-size, and small U.S. companies. Key findings include:
1) Larger companies have a higher percentage of variable pay, with CEOs of top 200 companies having an average of 87% of target pay in variable compensation. Performance-based long-term incentives represent the largest portion of long-term incentive value across all company sizes.
2) Earnings metrics are the most commonly used and heavily weighted performance metric in annual incentive plans, present in over 85% of plans across all company sizes. Larger companies tend to include more performance metrics in their plans.
3) Usage of environmental, social, and
Marketing in the Hellenic private secondary education during the recession Achilleas Papatsimpas
Presentation of the paper "Marketing in the Hellenic private secondary education during the recession" which was presented in in the 1st International Congress on Management of Educational Units. December 7-9, 2018, Thessaloniki, Greece
Ch3QUIZ strategic management concepts &cases 11th edition by Fred حمد بوجرادة
This document is from a chapter on business ethics, social responsibility, and environmental sustainability. It discusses key topics related to establishing principles of ethical conduct in organizations, developing codes of business ethics, and training employees on ethics. It also addresses the importance of social responsibility and protecting the environment, including strategies for firms to become more sustainable and issues like global warming. The chapter presents ideas for integrating ethics and social considerations into strategic planning and decision making.
- Estácio is the largest private higher education group in Latin America with 202k students across 77 campuses in Brazil. It generates over R$1 billion in annual net revenues and R$110 million in EBITDA.
- The company aims to grow profitably through efficiency gains from centralizing processes, quality gains from standardized programs, and selective M&A. It focuses on serving the large middle- and lower-income student populations.
- Major shareholders include founder shareholders with 53% and GP Investments with 20%. There is a shareholder agreement in place governing management and dividends.
The document discusses strategic cost analysis and planning collaboration between planners and finance at City University London. It outlines who Develin Consulting is and their experience working with universities. It emphasizes that achieving financial sustainability through scenarios requires planners and finance to work closely together using shared cost analysis and modeling to guide strategic decision making. Key elements of their collaboration include developing rules of thumb for how costs change with activities, creating visualizations to build common understanding, and integrating financial targets into all planning and proposals for change.
Lesson 2 a balanced approach to setting objectivesSamuel Lee Mohan
In this lesson you learned that a balanced approach to setting objectives involves Financial and Strategic objectives. You also learned that financial objectives are lag indicators while strategic objectives are lead objectives.
SOMOS Educação is the largest K-12 education platform in Brazil. It has various business units including K-12 educational solutions, proprietary schools and language learning. It operates 28 schools with over 19,000 students and has a leading position in the Brazilian textbook market through the PNLD program. The company aims to transition to long-term contracts for its educational materials to increase revenue resilience and client retention. It focuses on expanding early childhood education which has better market fundamentals.
This document discusses how school districts can continue improving teaching quality during tough economic times. It recommends that districts rethink how they spend money on professional development by aligning spending with long-term strategies, reallocating funds from non-strategic areas, and ensuring internal practices support teaching quality goals. Stimulus funds should support sustainable reforms rather than ongoing costs.
2017 William Blair & Company Investment Banking Case Competition - FinalistIan Socrates
- Patterson Education Group is a scalable education platform delivering exceptional student outcomes through individually tailored curriculums and a talented executive team.
- Valuation analysis values PEG's enterprise value between $157-$177 million based on comparable, precedent, and discounted cash flow analyses.
- The recommendation is to pursue a sale to a strategic buyer given industry consolidation trends and PEG's compelling growth profile and market position.
The document provides an overview of Aspen Group, Inc., a publicly traded online university. It discusses Aspen's business model, competitive advantages, and financial projections. Key points include:
- Aspen focuses on graduate degree programs like MBAs and MSNs, which have higher completion rates and salaries than undergraduate programs.
- Their low tuition rates and in-house student acquisition model help keep costs down compared to competitors.
- Projections estimate growing student enrollment from 2,300 in 2013 to 5,000 in 2015, with revenues increasing from over $4 million to over $11 million in that period.
- Aspen expects to break even on an adjusted EBITDA basis around 2,500 students and achieve
This document discusses strategic enrollment planning at USM. It begins by looking back at USM's history and financial situation from 2000-2005 and 2006 strategic plan which focused on health sciences and fiscal stability. Enrollment in health sciences programs like nursing, DPT and HIM grew steadily. Total enrollment increased 46% from 2005-2012 through initiatives like online programs. The endowment grew significantly.
The document then discusses the current environment including MOOCs and their promises and challenges. Strategic enrollment planning is presented as crucial for understanding the changing landscape of factors like slowing enrollment growth and demographic shifts. Recommendations are made to consider key questions and priorities for strategic enrollment planning like improving retention, determining program demand, and introducing new
Morgan Santley 11th Annual Latin American Conference PresentationEstácio Participações
The document discusses the Brazilian post-secondary education sector and Estácio Participações, the largest player in the private post-secondary sector in Brazil. It notes the sector has high growth potential due to low penetration rates and increasing demand. Estácio has a national footprint of 77 campuses and over 205,000 students. It discusses Estácio's growth strategies including organic growth, acquisitions, distance learning, and efficiency gains.
The document discusses competitive dynamics and competitor analysis. It provides a comprehensive model of global competitive dynamics that considers industry-based, resource-based, and institutional-based perspectives. Industry-based perspectives focus on factors that enable collusion between firms, such as concentration, product homogeneity, and entry barriers. Resource-based perspectives examine how a firm's valuable and rare resources can provide competitive advantages. Institutional perspectives look at how formal institutions like antitrust policies govern competition domestically and internationally through rules around pricing, dumping, and export cartels.
This document provides information and instructions for several financial analysis assignments. It includes:
1. Instructions to calculate ratios for a company's balance sheet and income statement and compare to industry averages.
2. Questions about implementing a cash management system and calculating potential interest earnings.
3. Multiple questions calculating present and future values of cash flows using time value of money concepts.
4. Questions calculating a company's weighted average cost of capital and evaluating capital budgeting projects.
The document contains detailed information and calculations required to complete various financial analysis assignments on topics like ratio analysis, time value of money, cost of capital, and capital budgeting.
WSJ Hay Group 2014 CEO compensation studySteve Sabow
- CEO pay increased in 2014, with total compensation rising 4.1% to $3.7 million and long-term incentive grants increasing 5.6% to $8.1 million. Companies made changes to pay mixes, increasing the portion tied to performance in response to shareholder feedback.
- Shareholder returns were strong in 2013 and solid in 2014, with total shareholder returns of 34.6% and 16.6% respectively. Company financial performance also increased, contributing to higher CEO pay.
- Shareholders continue to prefer more compensation being tied to long-term performance, leading to performance awards becoming the largest part of the pay mix for CEOs.
This document provides an overview and guidance for teaching the AL Business Studies 9707 unit on finance and accounting. It outlines the recommended prior knowledge, context, and learning outcomes for six topics: sources of finance, forecasting cash flows, costs, accounting fundamentals, analysis of published accounts, and investment appraisal. For each topic, it suggests introductory activities and case studies from the endorsed textbook. It emphasizes applying the topics to real-world business decision making and developing students' analytical and evaluative skills.
Demonstrating the Application of Design Thinking Methodology in MBA Fieldwork...ACBSP Global Accreditation
The document discusses applying design thinking methodology to MBA fieldwork consulting projects. It provides an overview of design thinking and the design thinking process. It then summarizes a fieldwork consulting project where MBA students used design thinking to help a Parent Teacher Association address the problem of increasing tardiness at an elementary school after busing was eliminated. The students empathized with stakeholders, defined the problem, ideated solutions, created and tested a prototype traffic flow solution, and benchmarked other university fieldwork programs.
This document provides an abstract for a study that aims to determine if public listed companies on the Malaysian stock exchange use sustainability accounting and reporting to legitimize themselves to stakeholders by reporting on the Social Cost of Carbon. The introduction provides background on the growth of sustainability reporting and the Global Reporting Initiative framework. The study objectives and research questions are outlined, along with a literature review on sustainability accounting approaches and the theoretical framework of legitimacy theory. A conceptual framework is proposed with hypotheses about how different types of sustainability reporting can lead to organizational legitimacy. The proposed methodology is to examine sustainability reports of 200 public companies over 15 years to test these hypotheses. The significance and anticipated findings are that reporting the social cost of carbon can help companies plan strategically and be sustainable
Leading Learning to Create Economic Power and Value
By continuously learning, faster than competitors, and applying the right strategies at the right times, organizations have a sustainable competitive advantage. To create such a climate, leaders must ask themselves a serious question: “How can I dramatically increase my organization’s ability to learn?”
The document summarizes a study on CEO incentive compensation plans among 600 large, mid-size, and small U.S. companies. Key findings include:
1) Larger companies have a higher percentage of variable pay, with CEOs of top 200 companies having an average of 87% of target pay in variable compensation. Performance-based long-term incentives represent the largest portion of long-term incentive value across all company sizes.
2) Earnings metrics are the most commonly used and heavily weighted performance metric in annual incentive plans, present in over 85% of plans across all company sizes. Larger companies tend to include more performance metrics in their plans.
3) Usage of environmental, social, and
Marketing in the Hellenic private secondary education during the recession Achilleas Papatsimpas
Presentation of the paper "Marketing in the Hellenic private secondary education during the recession" which was presented in in the 1st International Congress on Management of Educational Units. December 7-9, 2018, Thessaloniki, Greece
Ch3QUIZ strategic management concepts &cases 11th edition by Fred حمد بوجرادة
This document is from a chapter on business ethics, social responsibility, and environmental sustainability. It discusses key topics related to establishing principles of ethical conduct in organizations, developing codes of business ethics, and training employees on ethics. It also addresses the importance of social responsibility and protecting the environment, including strategies for firms to become more sustainable and issues like global warming. The chapter presents ideas for integrating ethics and social considerations into strategic planning and decision making.
- Estácio is the largest private higher education group in Latin America with 202k students across 77 campuses in Brazil. It generates over R$1 billion in annual net revenues and R$110 million in EBITDA.
- The company aims to grow profitably through efficiency gains from centralizing processes, quality gains from standardized programs, and selective M&A. It focuses on serving the large middle- and lower-income student populations.
- Major shareholders include founder shareholders with 53% and GP Investments with 20%. There is a shareholder agreement in place governing management and dividends.
The document discusses strategic cost analysis and planning collaboration between planners and finance at City University London. It outlines who Develin Consulting is and their experience working with universities. It emphasizes that achieving financial sustainability through scenarios requires planners and finance to work closely together using shared cost analysis and modeling to guide strategic decision making. Key elements of their collaboration include developing rules of thumb for how costs change with activities, creating visualizations to build common understanding, and integrating financial targets into all planning and proposals for change.
Lesson 2 a balanced approach to setting objectivesSamuel Lee Mohan
In this lesson you learned that a balanced approach to setting objectives involves Financial and Strategic objectives. You also learned that financial objectives are lag indicators while strategic objectives are lead objectives.
Better cheaper faster board-ceo partnership for changeEllen Chaffee
This document summarizes a workshop on strategic finance for higher education institutions facing budget challenges. It discusses the need for colleges and universities to change their business models to improve affordability, accessibility, efficiency and effectiveness in order to meet goals for increasing the number of college graduates. The workshop covers strategies for reducing costs through program prioritization, administrative efficiencies and productivity gains through improved retention, time to degree and learning outcomes. It emphasizes the importance of aligning financial decisions with institutional mission and strategic goals through the use of strategic indicators and financial metrics to assess progress.
The document summarizes a consulting firm's presentation recommending strategies for Exeter Consulting to increase growth. It recommends that Exeter expand its education practice domestically and globally in India, create an energy sector focused on renewable energy, and restructure internally to support these initiatives. Over 5 years, this strategy is projected to more than triple Exeter's revenue growth rate and establish new long-term client relationships.
On May 1st, the Center for Innovative School Facilities hosted a group workshop led by Adam Rubin of New Visions for Public Schools. Adam led a discussion focusing on education reform and how it is driving the design, construction, and community and administrative infrastructure of school facilities.
Changing the Conversation in Facilities Management - A Step Towards Total Cam...Sightlines
As a result of increasing demands for capital renewal investments at a time when resources are limited, we need a new conversation around facilities at our campuses. This conversation needs to engage stakeholders and force a dialogue regarding institutional priorities and facilities initiatives that support them. An institution-wide understanding of space priorities and capital needs must drive operating changes that stick.
Facilities leaders need to use a language that creates alignment throughout the institution and drives effective policies. They need to create constituency for a multi-year capital plan. They need to communicate results to drive credibility and maintain support. During this presentation, participants will learn different strategies for engaging with various constituencies on campus in order to create facilities plans that are technically sound and tie to mission and finance. Working together, we can create a dialogue that resonates from the board room to the boiler room.
New and Emerging Models for Work-based LearningNAFCareerAcads
This document discusses new and emerging models for work-based learning. It provides an overview of the components of work-based learning programs, including an academic component, technical component, and work-based learning component. It also discusses the benefits of work-based learning for both students and businesses, such as reduced costs, increased retention and productivity, and the development of 21st century skills. The document explores alternatives to traditional internships that can provide work-based learning opportunities for all students and ensure equity of access. Resources for developing work-based learning programs and contact information are also provided.
NorQuest College implemented a Value Improvement Program (VIP) to help address budget cuts and inefficiencies. The Landmark Group Centre for Value Improvement was created to train staff in Lean Six Sigma and oversee process improvement projects. In its first year, the VIP completed multiple projects that reduced costs by over $486,000 and improved processes like student intake and procurement lead times. The program looks to sustain gains through staff empowerment, continuous monitoring, and celebrating improvements.
CleanEdison provides turnkey online vocational training programs and services through its "School as a Service" model, partnering with colleges and organizations to design, market, and manage short-form vocational programs in high-demand fields in order to address the problems of student debt without degrees and help students obtain well-paying jobs. CleanEdison has already certified over 15,000 students through partnerships with 15 colleges and organizations, and sees significant market opportunity in the areas of vocational education, for-profit school partnerships, and corporate employee training.
Workforce Development An Economic Development Assetcquinn63
The document discusses workforce development as an economic development tool. It provides an overview of the workforce system including the Workforce Investment Act (WIA) and workforce boards. It describes how workforce development, economic development, and education can collaborate using a business solutions model to understand business needs and provide solutions through their collective resources and partnerships.
The document summarizes the findings of a workforce study conducted across 52 counties and 8 sub-regions in the Memphis area. It identifies both strengths and weaknesses of the current workforce, including a large potential labor supply but also low educational attainment. Key recommendations include creating a regional workforce partnership, targeting high-growth industries, expanding vocational training programs, and increasing the role of private businesses in developing the workforce.
This document discusses CHS Inc.'s evolution of long range planning through implementing a new strategic finance model. It describes CHS's businesses and leadership changes that created a need for updated strategic planning. The finance team was tasked with developing a 5-year strategic growth plan using a new Hyperion Strategic Finance tool to integrate financial modeling, scenarios, and planning across business units. Lessons learned included focusing the model design, keeping it simple, training team members, and using the plan to kick off annual planning and continuously improve the process.
Growth Strategies for Charter Schools: Start-up, Expansion, Maturity | Califo...Charter School Capital
Charter schools face a variety of challenges at each stage of growth. This panel session will outline the challenges charters face during phases of growth from start-up to expansion, through maturity. Our panel of experts will also offer best practices learned from their experiences, and used to achieve success.
GPO Global Partner Operations and SAP can help educational institutions transform their operations through an integrated technology platform. Moving to a single SAP platform can provide real-time insights, increase revenue potential, and improve risk management. SAP offers solutions for students, teaching and learning, operational efficiencies, education funding and income, and commercial/non-commercial research. GPO and SAP consultants can help institutions implement SAP solutions to achieve benefits like increased efficiency and competitive advantage.
GPO Global Partner Operations and SAP can help educational institutions transform their operations through an integrated technology platform. Moving to a single SAP platform can provide real-time insights, increase revenue potential, and improve risk management. SAP offers solutions for students, teaching and learning, operational efficiencies, education funding and income, and commercial/non-commercial research. GPO and SAP consultants can help institutions implement SAP solutions to achieve benefits like increased efficiency and competitive advantage.
What's the ROI of a TSIA membership? These three member companies were experiencing service business challenges and TSIA was able to provide actionable recommendations through membership offerings to get them up and to the right in terms of performance. http://info.tsia.com/member-success-stories
The document outlines a strategic plan for the Rainforest Action Network (RAN) to expand its campaigns and membership over the next 5 years. It proposes a "Triple-EX" strategy to 1) expand membership through various marketing efforts, 2) expose Exxon's negative environmental impact, and 3) excel RAN's human resources. Key elements include increasing the annual budget to $5 million, targeting Exxon for its climate change impact, and implementing employee training and benefits programs to reduce turnover. Financial projections estimate growing membership to over 20,000 members and achieving a positive net present value.
The document outlines a strategic plan for the Rainforest Action Network (RAN) to expand its campaigns and membership over the next 5 years. It proposes a "Triple-EX" strategy involving expanding membership through various marketing efforts, exposing Exxon's environmental damages through fact-finding alliances, and excelling human resources through training and compensation programs. The plan sets objectives to increase membership 15% annually and broaden campaigns from rainforests to climate change issues. A timeline, financial projections, and assumptions are included to support the 5-year goals.
This document summarizes a playbook for competency-based education (CBE) programs. It finds that over 150 institutions currently offer CBE programs, with strong expected growth to 750 institutions and 500,000 students by 2020. Key drivers of CBE growth are the rising cost of higher education, demand for flexible learning options, and employer emphasis on skills. The playbook helps institutions address challenges like strategy, organization, program development, student success, technology, management, and marketing across the CBE lifecycle from planning to implementation to improvement. It provides a framework to align efforts, avoid pitfalls, and evaluate options tailored to each institution.
Similar to 2017 William Blair Investment Banking Case Competition, Honorable Mention (20)
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Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
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Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
4. Executive Summary Industry Dynamics Company Overview Valuation Strategic Options Final Thoughts Appendix |4
$300 $350 $400 $450 $500 $550 $600 $650 $700 $750
DCF - Exit Multiple (5 New Schools)
DCF - Perpetuity Method (5 New Schools)
DCF - Exit Multiple (10 New Schools)
DCF - Perpetuity Method (10 New Schools)
Comparables - 2017E Adjusted EBITDA
Comparables - 2017E Revenue
Precedents - 2017E Adjusted EBITDA
Precedents - 2017E Revenue
Leveraged Buyout (0 New Schools)
($ in millions)
Executive Summary
Football Field Analysis
PEG is a leader in the education
services industry with minimal
competition
Ideal business model for expansion
in domestic and international
markets
Positioned for Growth Company Financials Recommendation
Valuation analyses places PEG’s
enterprise value between
$490mm - $540mm
2017E Revenue: $195.8mm
2017E EBITDA: $17.0mm
Examining past transactions and
possible synergies, we believe a
sale to a financial sponsor would
optimize growth potential for PEG
Potential financial sponsors
include…
Source: Bloomberg, Team Projections
6. Executive Summary Industry Dynamics Company Overview Valuation Strategic Options Final Thoughts Appendix |6
Industry Dynamics
5
10.2
16.2
PEG Private Public
0%
10%
20%
30%
40%
1968 1972 1976 1980 1984 1988 1992 1996 2000 2004 2008 2012
20th 50th 90th
Significant growth in high-income family enrollment
Private school locations follow population distribution
patterns
Smaller class size means closer interaction and PEG is a
clear leader in the category
With only 24.8% of student enrollment, the secular
school segment still produces 48% of industry revenue
Key Takeaways
Student/Teacher Ratio by Market
Growth in High Income Enrollment
23%
29%
48%
Catholic Schools
Other Religious
Schools
Secular Schools
$68.7bn
Revenue Segmentation
0%
10%
20%
30%
Establishments Population
Private Schools Follow Population
Source: Bloomberg, IBIS World
7. Executive Summary Industry Dynamics Company Overview Valuation Strategic Options Final Thoughts Appendix |7
Hire and retain
quality
teachers
Ability to
attract local
support
Availability of
financial
resources
Small class
sizes
Industry Revenue Growth External Drivers
Key Factors to Industry Success
$45,000
$50,000
$55,000
$60,000
$65,000
$70,000
$75,000
Households earning more than $100,000 a
year expected to increase
▫ Increases demand for private schools
High school retention rate expected to remain
stagnant in 2017
Number of school aged children expected to
increase
▫ Opportunity for industry operators to
acquire these students
Industry Drivers
Source: Bloomberg, IBIS World
9. Executive Summary Industry Dynamics Company Overview Valuation Strategic Options Final Thoughts Appendix |9
Company Description
Nationally accredited, premium private school
platform offering grade levels 9-12
9,500+ students
60 locations across the United States regions
Premium learning experience with each class
containing on average 5 students
NCAA approved courses in all subjects
Proprietary cloud-based online curriculum
High impact on student wellness and success
Industry Positioning
Students ages 14-17 seeking premium
education experience with more direct teacher
engagement
Household income of 150,000 +
Almost 100% private pay
End Customer Demographics
Adjusted EBITDA Margin
Average Student Lifetime Value
Entry Grade Full-Time Part-Time
9th $65,200 $12,200
10th $53,200 $9,600
11th $49,500 $6,200
12th $21,000 $3,100
Weighted Average $53,600 $9,400
Patterson Education’s Profile
0%
5%
10%
15%
20%
25%
0
10
20
30
40
50
60
70
80
2015 2016 2017 2018 2019 2020 2021
ADJUSTEDEBITDA($INMILLIONS)
Adjusted EBITDA Adjusted EBITDA Margin
Source: Company Materials, Company Financials
10. Executive Summary Industry Dynamics Company Overview Valuation Strategic Options Final Thoughts Appendix |10
Product Offerings
Four Part Offering
1,100
1,800
3,000
3,400
0
1,000
2,000
3,000
4,000
YE A R 1 YE A R 2 YE A R 3 YE A R 5
REVENUE($INTHOUSANDS)
Average School Performance
Broad and Deep Curriculum
More than 300
courses offered
Over 150 College
Prep or Honors
courses
Robust NCAA
approved core course
list
Enrichment Offerings
Academic skill courses
Wellness courses
Preparation for
postsecondary success
Holistic Experiences
Clubs and Societies
Field Trips and
Activities
Anatomy of PEG School
Approximately 10,000
square feet per school
Approximately 10
classrooms
State of the Art Science
labs and music stations
Direct GPA Enhancement
2.79
3.73
GPA Prior to PEG GPA at PEG
PEG Approach
Competency-based approach and tech-enabled
platform allows PEG to tailor instruction and
maximize individual potential
Small classroom setting allows teachers to
focus on building meaning relationships with
students
Proven business model with highly attractive
growth profile and unit economics
Operates on a 4-day, 8 hours per day schedule
Approximately 75% at or exceed Unit Model by Year 3
Source: Company Materials, Company Financials
11. Executive Summary Industry Dynamics Company Overview Valuation Strategic Options Final Thoughts Appendix |11
Untapped Market Opportunities
Low penetration rates allow for an increase in
penetration in high priority areas
Increase enrollment
Raise tuition prices and professionalize
additional services
Fasting Growing Top Line
New Market Opportunities
Expand into high priority metropolitan areas
Grow internationally where people are seeking
additional education alternatives
Grow technology suite allowing students to
utilize when not near a PEG campus
New School Openings
Positive cash flow by year 1
ROIC by year 5 of approximately 1-2x
Roughly a 50% IRR
Growth Positioning
0
50
100
150
200
250
300
350
400
2015 2016 2017 2018 2019 2020 2021
Revenue($inMillions)
Existing Market Opportunities
$1.08B of
immediate white
space
Over 200 priority
locations for new
schools
1,000
1,700
2,250
2,800
3,300
0
1,000
2,000
3,000
4,000
YE A R 1 YE A R 2 YE A R 3 YE A R 4 YE A R 5
REVENUE($INHUNDREDS)
*Blue shows existing states while gray shows strong grow opportunities
Source: Company Materials, Company Financials
12. Executive Summary Industry Dynamics Company Overview Valuation Strategic Options Final Thoughts Appendix |12
Situation Analysis
S
O T
W
Scalable platform with few direct competitors
of scale; only small group model with national
accreditation
Unique student profile and favorable target
demographic lowers cyclicality
Embedded growth built into platform with
new schools ramping up
Localized buying decision where distance is
under 10 mile radius
High tuition prices that have significantly
outpaced inflation result in paying a premium
for high quality educational services
Current landscape is a patchwork of regulatory
and geographic entities
Total US addressable market of over $2B that
is underserved by education providers
Meaningful opportunity to grow
internationally
Enhancement and further development of
current offerings
Increased government support of charter
schools will cause competition
Mounting regulations have lead to higher
barriers of entry and increased costs
Decrease in private school enrollment due to
increased public funding
Strengths Weaknesses
Opportunities Threats
Source: Company Materials, Company Financials
20. Executive Summary Industry Dynamics Company Overview Valuation Strategic Options Final Thoughts Appendix |20
Strategic Acquirers
Description Metrics Reasoning
Laureate Education offers
undergraduate and graduate degree
programs to over one million
students worldwide with nearly 70
campus-based and online
universities.
Capella Education Company is an
education services holding company
that owns Capella University and
other assets. Capella University is a
pioneer in developing high-quality,
professionally aligned online degree
programs for adult learners.
TTM Revenue
$4.24bn
Market Cap
$2.63bn
Laurate Education has an
international presence offering
college degrees through a similar
platform to PEG and can help further
develop PEG offerings as well as grow
PEG’s top line.
TTM Revenue
$438mm
Market Cap
$810mm
Capella Education has made two
acquisitions to date in the online
learning space while also operating
other online learning platforms.
Capella can help PEG achieve top line
growth while furthering PEG’s online
and technological capabilities.
Acquirer
Graham Holdings Company delivers
quality products and services to
today’s students, viewers, customers
and advertisers. Graham owns
Kaplan, Graham Media Group,
SocialCode as well as promising
smaller operations.
TTM Revenue
$2.51bn
Market Cap
$3.09bn
Graham Holdings has made five
acquisitions to date and owns Kaplan
as well as other promising education
platforms. Graham would allow PEG
to better market current offerings as
well as further develop product
offerings through Kaplan, one of the
world’s largest providers of
educational services.
K12 is an education company that
sells online schooling and curriculum
to state and local governments. K12 is
an alternative to traditional schooling
from kindergarten to 12th grade and
is paid for from taxes.
TTM Revenue
$888mm
Market Cap
$712mm
K12 has made four acquisitions to
date in the education space. K12
would allow PEG to further develop
software and technology furthering
top line growth. PEG would pair well
with K12’s current offerings and
allow K12 to have physical locations.
Source: Bloomberg, IBIS World
21. Executive Summary Industry Dynamics Company Overview Valuation Strategic Options Final Thoughts Appendix |21
Strategic Acquirers
Description Metrics ReasoningAcquirer
Strayer Education is an education
services holding company that owns
Strayer University. Strayer allows
students the opportunity to take
classes on campus, online or both.
TTM Revenue
$449mm
Market Cap
$993mm
Strayer Education operates Strayer
University which can help PEG grow
their product offering to the adult
learner. Operating under a similar
platform as PEG, Strayer can also help
further develop PEG’s technologies.
Bright Horizons is leading provider of
early education and preschools,
employer-sponsored child care, back-
up care, educational advisory
services and other work and life
solutions.
TTM Revenue
$1.65bn
Market Cap
$5.04bn
Bright Horizons has acquired four
players in the child care space to help
expand product offerings. PEG would
pair well with Bright Horizon’s
current offerings and would allow
PEG to expand to new markets.
Estacio Participacoes is a Brazil-
based educational services provider.
Estacio Participacoes focuses on post-
secondary education through on-
campus and distant learning courses
with a focus in business training.
TTM Revenue
3.29bn BRL
Market Cap
10.05bn BRL
Estacio Participacoes has a strong
presence in Brazil and would allow
PEG to expand their geographical
presence and product offering
resulting in top line growth.
G8 Education is the largest ASX listed
child care center operator in
Australia. G8 Education provides
development and educational child
care services.
TTM Revenue
785mm AUD
Market Cap
1.94bn AUD
G8 Education has made two
acquisitions to date in the child care
and education space. G8 Education
companies would pair well with PEG
and allow PEG to grow top line
growth through international
expansion.
Virscend Education is a Hong Kong
based holding company that operates
over five schools ranging from
kindergarten to college. They mainly
operates in Southwest China through
physical locations.
TTM Revenue
1.03bn HKD
Market Cap
15.44bn HKD
Virscend Education is a major player
in Southwest China education and
would allow PEG to expand
internationally in a growing market
and increase physical locations.
Source: Bloomberg, IBIS World
22. Executive Summary Industry Dynamics Company Overview Valuation Strategic Options Final Thoughts Appendix |22
Financial Sponsors
Investment Criteria ReasoningSponsor
Investment Range: $100mm - $175mm
Preferred EBITDA: $20mm - $50mm
Investcorp targets growing business that operate in
fragmented industries with the potential to expand
internationally or domestically through multiple avenues of
growth and cash flow generation. Investcorp holds Nobel
Learning Communities in their portfolio and specializes in
business services, industrials and consumer products.
Investment Range: $20mm - $200mm
Brentwood Associates looks to invest in proven and
differentiated consumer-focuses businesses with defining
brands and high customer loyalty, significant potential growth
in multiple channels and strong company cultures. Brentwood
has an area of focus in education and currently holds
Excelligence Learning, ClassWallet and The Teaching Company
in their portfolio.
Investment Range: $5mm - $40mm
Preferred EBITDA: Over$2mm
Preferred Revenue: Over $10mm
Boathouse Capital doesn’t invest in turnaround situations but
rather with already excelling companies that have high growth
and room for margin improvement. Boathouse Capital has
experience in the education industry with Atomic Learning and
MIS Training Institute in their portfolio.
Investment Range: $10mm - $25mm
Sterling Partners seeks to create value by investing in
transformational growth. Sterling Partners Education Opportunity
Fund was launched to help promote a more purposeful path for
students. In the Education Opportunity Fund Sterling currently
holds NRCCUA, Panopto and Amerigo.
Investment Range: $10mm - $100mm
Leeds Equity Partners is a pioneer in investing in the knowledge
sector. The firm invests in established companies that address high
stakes challenges, have differentiated products and services,
provide measurable outcomes, and have minimal intermediation by
third parties. Their current holdings include Campus Management,
Knowledge Factor, and past include Nobel Learning Communities.
Source: Bloomberg, IBIS World
23. Executive Summary Industry Dynamics Company Overview Valuation Strategic Options Final Thoughts Appendix |23
Financial Sponsors
Investment Criteria ReasoningSponsor
Investment Range: $10mm - $40mm
Preferred EBITDA: $5mm - $30mm
Gauge Capital seeks to invest in the services sector of the
economy. Their primary aim is long-term, sustainable value
creation through transformational change as well as organic
and strategically acquired growth. Gauge has experience in the
education services industry and currently holds eDynamic
Learning and Teachers of Tomorrow.
Investment Range: $10mm - $50mm
Preferred EBITDA: $4mm - $15mm
Preferred Revenue: $25mm - $250mm
Clearlight Partners looks to invest in a variety of industries
including industrials, business services, consumer products,
healthcare and education. Clearlight invests in companies
operating in industries with tailwinds propelling future
growth. Clearlight once held U.S. Education Corporation in
their portfolio where U.S. Education grew into a leading career
education company.
Investment Range: $5mm - $30mm
Preferred EBITDA: $4mm - $15mm
Preferred Revenue: $5mm - $20mm
Education Growth Partners is dedicated to high potential
education companies that offer compelling solutions to unmet
needs in education. The Education Growth Partners team is
composed of investors who have a passion for education.
Education Growth Partners holds eScholar, The Gordian Group
and Apex Learning in their portfolio.
Investment Range: $150mm - $800mm
Providence Equity’s objective is to build extraordinary
companies that will shape the future of the media,
communications, education and information industries and will
create attractive returns for our investors. The firm currently
holds ten education company's including AcadeMedia,
Archipelago Learning, Blackboard, and NACE Schools.
Investment Range: $15mm - $70mm
Preferred EV: Less than $250mm
Primus is a growth-oriented firm focused on investing in
leading healthcare, software, and technology-enabled
companies with a specific focus in education technology.
Primus is invested in the education space currently holding
American Institute.
Source: Bloomberg, IBIS World
24. Executive Summary Industry Dynamics Company Overview Valuation Strategic Options Final Thoughts Appendix |24
Market Overview
Market Median EV/EBITDA
0.0x
2.0x
4.0x
6.0x
8.0x
10.0x
12.0x
3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17
EV/EBITDA
M&A Market Volume & Value
Market Commentary
The market for M&A activity has remained
stagnant over the past year
Valuations for middle market companies have
recently shown static growth
The education market for M&A transactions
has seen growth in value and number of
transactions
0
200
400
600
800
1,000
1,200
1,400
$0
$50
$100
$150
$200
$250
$300
$350
$400
$450
Volume
DealVaule
Deal Volume Aggregate Deal Volume
Education Market Dynamics
0
20
40
60
80
100
120
$0
$1,000
$2,000
$3,000
$4,000
$5,000
$6,000
$7,000
DealVolume
DealValue
Deal Value # of Deals
Source: Bloomberg, IBIS World
26. Executive Summary Industry Dynamics Company Overview Valuation Strategic Options Final Thoughts Appendix |26
Final Thoughts
Sale to a sponsor offers PEG optimal benefits
PEGs strong management team is more likely to be
retained
Possibility for synergies with other portfolio
companies
PEG can continue to focus on their high growth
implementation strategy
Strategic vs. Sponsor Final Recommendation
We recommend PEG pursues a sale to Providence
Equity
Familiarity within education services industry
in regards to previous and current portfolio
companies
Combined with technological and international
portfolio companies, PEG could encounter
important synergies and international growth
opportunities
Implied valuation range 490mm – 550mm
$300 $350 $400 $450 $500 $550 $600 $650 $700 $750
DCF - Exit Multiple (5 New Schools)
DCF - Perpetuity Method (5 New Schools)
DCF - Exit Multiple (10 New Schools)
DCF - Perpetuity Method (10 New Schools)
Comparables - 2017E Adjusted EBITDA
Comparables - 2017E Revenue
Precedents - 2017E Adjusted EBITDA
Precedents - 2017E Revenue
Leveraged Buyout (0 New Schools)
($ in millions)
Football Field Analysis
Source: Bloomberg, Team Projections