EQT-backed Prometric prepping for sale, sources say
Prometric, an assessment and testing company focused on higher education, is preparing to come to market, said three sources familiar with the matter.
Two of the sources said the company generates about USD 150m of EBITDA, while the third source said EBITDA is between USD 150m and USD 160m. The sources were not certain if a bank has been named to advise. One of the sources said the timing for a launch is likely to be three to six months from now.
Baltimore-based Prometric was purchased by Baring Private Equity Asia in January 2018 for an undisclosed price from Educational Testing Service. Around that time, Reuters reported that the purchase price for Prometric would be around USD 1bn including debt. EQT combined with BPEA in 2022.
One of the sources said in the event of a sale, Prometric is likely to attract private equity though it has grown slowly. The source suggested the business might fetch a valuation of 8x to 10x EBITDA.
In September 2022, a Prometric executive told Mergermarket the company could seek acquisitions. Since then, it acquired EdPower in July 2024. At the time of the report, Prometric had made at least five acquisitions under Baring’s ownership, according to Mergermarket’s database.
EQT did not return requests for comment and Prometric declined to comment.