Independent schools, mergers & acquisitions: a platform for renewal
Author: Truan Stanley
Date: November 28, 2025
The independent school sector in the UK is at a crossroads. The VAT on school fees, coupled with rising costs, has created uncertainty in the industry, putting pressure on smaller schools, while also challenging the most prestigious institutions to prove their value.
As some schools close their doors, others are seeking strength in numbers through mergers and acquisitions (M&A). Far from being a purely financial manoeuvre, these consolidations are increasingly acting as platforms for strategic renewal, helping schools to refresh their vision, enhance facilities, and re-engage stakeholders.
“Many of the bigger independent schools are acquiring smaller schools, which in many cases is keeping them open,” says Pinnacle Director of Business Development Truan Stanley. “When this happens, the school must maintain the brand identity across the group, and that also means they are forced to take a fresh look at their learning spaces and are often receptive to suggestions that will improve the school."
“They realise that space matters and that the design of classrooms, boarding houses, etc, isn’t just a backdrop to education, they are active tools in learning, they support student well-being, they shape culture and they attract new pupils.”
As a partner to independent schools, Pinnacle is more than an FF&E designer and provider (although that’s part of our remit too); we’re a valuable partner able to guide schools and trusts through the design challenges that follow an M&A, ensuring that new identities are integrated and elevated.
The success of a school can’t be measured in profit alone
While the motivations for M&A in education mirror those in business - financial stability, market expansion, and strategic growth - schools aren’t like companies that measure their success by profit. Happy, successful students are a school’s greatest asset, and a merger or acquisition can reshape a school community for the better.
For leading independent schools such as Harrow or Eton, acquiring a smaller prep school offers a feeder pipeline that secures enrolment and embeds their ethos at an earlier age. For mid-sized schools, mergers can provide resilience against economic headwinds while opening new opportunities for co-education, enhanced facilities, or broader curriculum offerings.
But such moves are not without risk. Aligning two school cultures is as delicate as integrating two corporate brands. Truan explains: “If you acquire another business and merge it with your existing business, you’ve got to somehow get that culture to match yours, or it’s not going to work. It’s the same with schools.”
Independent schools are competing globally, as schools like Wellington College and Harrow are franchising their brands abroad, so whether a school is in the home counties or China, it has to embody the same identity as the rest of the group. The signage, the signature design, the furniture, the culture - it all has to translate overseas too.
Wellington College Prep School
Strategic renewal through space
Where schools once relied on reputation, today’s parents consider the physical environments in which their children learn - with so many stand-out learning spaces on offer, every institution/group has to raise standards or else they get left behind.
School design is about so much more than classroom design and layout - the look and feel of a school embodies its values, ambitions, and ability to nurture. M&A often acts as a catalyst for institutions to reflect on whether their facilities achieve this or whether they risk appearing tired compared to rivals.
By redesigning science labs, common rooms, libraries or boarding houses, schools can signal renewal not just to parents and students, but to staff and investors too. Truan explains: “We don’t design spaces as mere backdrops. They are tools to inspire, to recruit, to retain. It has never been more important for schools to stand out.”
The process is participatory, involving teachers and students in workshops and surveys to ensure spaces genuinely work for their communities. This co-creation builds ownership and ensures that facilities are not only beautiful but functional, safe and inclusive.
Identity, brand and belonging
A key challenge post-M&A is maintaining group identity while respecting the individuality of the acquired school. Facilities play a crucial role in this process. Truan explains:” A prep school acquired by a top independent school group, for example, might adopt flooring, wall finishes or art installations that mirror the other schools' aesthetic, reinforcing a vital continuity of brand.”
Equally, schools moving from single-sex to co-educational provision must rethink spaces in practical and cultural terms. Toilets, boarding houses and common rooms are reconfigured to be inclusive and appealing to both boys and girls.
Through such design choices, M&A becomes an opportunity not just to consolidate but to reimagine what the school stands for.
Case Study: Finborough School
A good example of strategic renewal through acquisition is Finborough School, a co-educational school in Suffolk, purchased by Forfar Education Group last autumn. Following the deal, Pinnacle undertook a £1.2 million refurbishment of a boarding house. Truan explains: “We did a full refurb, including the FF&E. The transformation turned dormitories into modern, inspiring spaces that gave the school a new identity aligned with its new ownership.
“Students were in tears when they saw it. They were so pleased with the space, and when you give young people an exceptional space, it helps them feel valued. They also respect that space and will look after it.”
The refurbishment demonstrated Forfar’s commitment to investing in its future and elevated the school’s standing in the eyes of both parents and pupils.
Truan says: “In many acquisitions, boarding houses are among the most depleted areas, despite being central to student life. By prioritising their renewal, schools send a clear message: every student deserves to live and learn in an environment of dignity and aspiration.”
Redrawing masterplans
M&A can shake up a school’s long-term master plan. Strategies are invariably rewritten when a new site is added or when two institutions combine. This disruption creates a unique opportunity to reflect on the current vision and strategy.
Questions arise, such as how can spaces across a group of schools be standardised for efficiency while allowing for local character? Which facilities - science labs, dining halls, sixth-form centres - will deliver the most value in terms of student recruitment, wellbeing, or results? How can safeguarding, inclusivity and sustainability be embedded from the outset?
Pinnacle supports schools to answer these questions, advising them on which areas to prioritise. Truan explains: “Sometimes the right investment is not in the headline-grabbing theatre or sports centre, but in the sixth form centre that persuades students to stay on rather than transfer to a college.”
Wellington College – Summer Project 2022
Safeguarding and inclusivity
M&A is also a chance to upgrade safeguarding measures through design. Inclusivity is equally central. Designing for neurodiverse students, creating “snug” reading areas, and providing zones with different sensory qualities allow every child to find a space where they belong. Truan adds: “If students have been involved in the design process, they respect the spaces and those spaces sell themselves to the next generation of families.”
Looking ahead
Industry commentators have predicted that within a generation, the number of standalone independent schools in the UK could fall to around 100, out of 2,000. The rest will belong to groups or trusts, consolidating resources and standardising procurement. For Pinnacle, this shift makes group-level relationships increasingly important, enabling schools to align their brand and vision across multiple sites.
In this landscape, M&A will continue to be a catalyst for renewal. Schools that embrace it as a moment to redefine who they are, what they offer, and how they present themselves are more likely to thrive, even in a tough economic landscape.
Conclusion
Independent school mergers and acquisitions are not just about balance sheets or brand portfolios. They are about people: students, teachers, parents, and communities. Done well, they provide the momentum for schools to refresh their vision, modernise their facilities, and re-engage their stakeholders with renewed purpose.
Finborough School illustrates how design investment following acquisition can transform student experience and school identity in one move. In a sector facing unprecedented change, the schools that will prosper are those that see their environments not as static backdrops, but as active tools of education, inspiration and belonging.