EdTech Annual Report 2025

Behind this Report

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Rohit Kumbhar Senior Associate

Ismael Wrixen Executive Chairman

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Rohit Kumbhar is a Senior Associate on the Investment Bankingteam at FE International. He has extensive experience in investment banking across multiple sectors and has overseen more the $1 billion in deal value. Previously, he worked as an Associate at Bank of America serving FTSE 100/250 clients for corporate broking advisory, investor engagement and M&A. Josh Andermarch Associate Josh Andermarch has over 5 years of experience in linkedin" Icon - Download for free – Iconduck middle-market M&A, growth equity advisory, and financial sponsor coverage across various industry verticals. Prior to FE, he was an Associate at The DAK Group, Evolve Capital Partners, and TAG.

Ismael Wrixen is the Executive Chairman of FE International and the CEO of ThriveCart. He is a member of the Forbes Finance Council and a NACVA 40 Under 40 Award winner. Before FE, Wrixen was in large-cap M&A investment banking, where he executed several high-profile public deals, namely in the technology sector.

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Thomas Smale Chief Executive Officer

Thomas Smale dedicates his career to helping founders get acquired on their terms. He built FE into the leading advisor for lower middle market technology businesses. FE's team has completed over 1,500 transactions with a combined value of over $50 billion. Thomas offers invaluable technical, diligence, and negotiation advice to early-stage and seasoned business owners alike.

Devang Chandak, CA Associate

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Randal Stephenson Head of Investment Banking

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Devang Chandak has 5 years of experience in valuations and financial modelling. He provides comprehensive, data- driven valuations and supports the M&A team. Previously, Devang worked at Deloitte and Kroll (Duff & Phelps).

Randal Stephenson has over 25 years of experience in both M&A advisory and debt and equity capital raising. He has closed over 300 transactions valued at $44 billion across 22 countries. Before FE, he held senior investment banking positions at Merrill Lynch, Jefferies, CIT Group, and Duff & Phelps.

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