Enrollment Management Company Sells for $850M

December 11, 2014

There's quite a bit of money to be made advising colleges on how to enroll students. On Tuesday, the Advisory Board Co. announced it's buying Virginia-based enrollment management consultant Royall & Company for $850 million. 

The Advisory Board, which advises 3,900 hospitals and 600 colleges, is paying $750 million in cash and $100 million in its own stock. Royall, founded in 1989, helps 290 colleges decide what students to target for enrollment and what to charge them.

Currently, Royall has about 7 percent market share and brought in about $105 million in revenue in the last fiscal year, according to a presentation the Advisory Board gave Wednesday night to investors

The deal is expected to close in January. 

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