San Francisco-based private equity firm Vector Capital, which invests in established technology businesses, has made a co-investment in educational publisher McGraw Hill Education in partnership with Platinum Equity.
Los Angeles-headquartered Platinum Equity acquired McGraw Hill in July this year.
Founded in 1888, McGraw Hill Education delivers curated content and digital learning tools and platforms to around 250,000 higher education instructors, 13,000 pre-K to K12 school districts, and a variety of academic institutions, professionals and companies. Its products are distributed in more than 100 countries across the Americas, Asia-Pacific, Europe, India, and the Middle East.
Rob Amen, a managing director at Vector Capital, said: “We have closely followed McGraw Hill, a hallmark of education solutions for well over a century, over the course of its transition into a digital-first technology enterprise. Today, McGraw Hill offers the market’s leading technology solutions through its Connect and ALEKS courseware platforms and will soon add Achieve3000 to its portfolio, which enables better outcomes for students and improved efficiency for instructors. We are excited to invest in McGraw in partnership with Platinum as it continues to further build out its technology solutions.”
McGraw Hill’s chief executive Simon Allen, commented: “We welcome Vector Capital as a co-investor in McGraw-Hill as we continue our efforts to grow the company and accelerate our digital transformation. We are making great progress developing world leading courseware and platforms for educators and students.”
Sidley Austin was legal advisor to Vector Capital on the co-investment and Simpson Thacher & Bartlett was legal advisor to Platinum Equity.
Date published: 5 October 2021