Careers Australia is seeking to overcome negative sentiment towards education and training providers and has started taking pitches from banks to start a sale process. 
Careers Australia, which counts Australian cricket captain Steve Smith and netball star Laura Geitz as ambassadors, is owned by White Cloud Capital. The private investment company is receiving pitches for a sell-side mandate after exploring a sharemarket listing 18 months ago, before shelving the idea.
White Cloud acquired Careers Australia in its entirety in 2013 for more than $100 million, after winning a bidding battle against private equity firm Crescent Capital Partners. The business is now understood to have earnings before interest, tax, depreciation and amortisation of more than $60 million. Amsterdam-based BXR Group is a cornerstone investor in White Cloud.
The education and training industry has been in the doldrums after the collapse of listed company Vocation last year. Education businesses carry regulatory and contract funding risks and most investors are treading cautiously in the sector.
Careers Australia, established in 2006, has 15 campuses throughout Australia that offer short courses, apprenticeships, traineeships, certificates and diplomas.