Announced
Financials
Tags
Education Services
textbook publishing
United States
Single Bidder
Friendly
Private Equity
Domestic
Acquisition
Private
Minority
Pending
Synopsis
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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