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Announced

Apollo Global to invest $500m in Cengage Group.

Financials

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Transaction Value£402m
Consideration TypeCash
Capital Owned-
Capital Bid For-
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Education Services

textbook publishing

United States

Single Bidder

Friendly

Private Equity

Domestic

Acquisition

Private

Minority

Pending

Synopsis

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Apollo Global, an American global private equity firm, agreed to invest $500m in Cengage Group, a global edtech company. "This investment is a strong affirmation of our performance and strategy by an investor who has deep knowledge of our industry and a track record of value creation. By replacing debt with equity capital from Apollo Funds, we are meaningfully reducing outstanding debt giving us optionality to invest in our portfolio of growing businesses," Michael E. Hansen, Cengage Group CEO.

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