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🔢Teaching Math: The PE-Backed Tutoring Play
Mathnasium case study
One of the most common threads of conversation among mid-level PE professionals these days is the idea of acquiring and scaling SMBs. HVACs, cleaning services, lawn care—you name it. I’ve always approached that topic with: what’s the real mission behind rolling up a bunch of businesses I’ve never done myself?
Then I came across the story of James Temple—a franchisee who successfully rolled up Mathnasium tutoring franchises and scaled to over $10 million in revenue. So I looked into the company behind the brand... and of course, there was a private equity firm at the top.
If there’s a topic you’d like me to cover, drop me a note at [email protected].
PE Playbook: Math Learning Centers
State of Play
Mathnasium is one of the world’s largest math-focused education franchises, with over 1,100 learning centers across North America, Europe, Asia, and the Middle East. In 2021, it was acquired by Roark Capital—a PE firm well-known for building franchise-based platforms, including Dunkin’, Orangetheory, and Arby’s.
What began as a curriculum developed by a math teacher for his son in Los Angeles has scaled into a global platform with a mission-driven impact and a powerful business model.
Let’s break down the investment thesis and how Roark is building value behind the scenes.
Private Equity Course Launch
In less than two weeks, I’m launching Road to Carry, a private equity training course built around how deals actually get done from start to finish.
You’ll get step-by-step video walkthroughs, real-world templates, and hands-on exercises across the full deal lifecycle: NDAs, models, memos, diligence, and more.
🎓 I’m opening early access to a small founding cohort. Join the waitlist: resources.roadtocarry.com/course-waitlist
(If you’ve already signed up, no need to do it again.)
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