• Has revenue in the USD 95m-USD 100m range
• Backed by Carrick Capital

Everspring, a provider of online marketing and education solutions for higher education, has hired Macquarie to explore a potential sale, said two sources familiar with the matter.

The company, backed by Carrick Capital, was founded in 2011. In December 2022, Carrick announced that co-founder and company president Beth Hollenberg was appointed as its chief executive officer. Hollenberg succeeded Jeff Conlon, the company’s co-founder, who stepped away from his day-to-day role overseeing Everspring.

The company works with more than 44 universities and supports over 70 programs, according to its website.

Both sources said the online program management space has been struggling as universities are grappling with new scrutiny from Washington. One source said Everspring competes with Keypath and Risepoint (formerly Academic Partnerships). The other source said due to the tough market, the business is more likely to attract strategics than private equity because universities are under pressure now so their spending patterns are unpredictable. He pointed to EAB and Liaison as potential suitors.

In November 2024, Everspring announced a strategic partnership with Slate, a provider of admissions and enrollment management software. This collaboration integrated VIA, Everspring’s enrollment marketing platform, with Slate’s admissions system, enabling universities to seamlessly connect marketing and enrollment data for optimized student recruitment, according to a press release.

Everspring and Macquarie declined to comment and Carrick did not respond to requests for comment.