OUR GUIDING PRINCIPLE OF ‘EDUCATOR FIRST’ ENSURES THAT WE ALWAYS KEEP TEACHERS AT THE CENTER OF OUR OPERATIONS, AND WE ARE RELENTLESSLY FOCUSED ON A STRATEGY THAT BALANCES GROWTH WITH IMPACT.
CHICAGO, IL December 1, 2020 —Edmentum, a global leader in education and innovative solutions for teaching and learning, announced a strategic growth investment from The Vistria Group (“Vistria”), a Chicago-based private investment firm focused on companies in the healthcare, education, and financial services sectors. Vistria’s strategic investment strengthens the education technology company’s position as a global leader in comprehensive K-Adult digital curriculum and assessments for learning and accelerates Edmentum’s opportunities for continued growth.
Edmentum’s recent investments affirm the company’s forward-thinking growth strategies. They include an emphasis in curriculum to specifically address a student’s COVID learning loss, supporting the whole child through partnerships in Social Emotional Learning (SEL), and helping learners of all abilities and backgrounds improve their career readiness.
“I’ve been incredibly fortunate to spend more than 10 years at an organization that truly embodies the mission of helping all kids reach their full potential. This exciting new partnership with Vistria accelerates our vision to positively impact students all around the world,” said Edmentum CEO Jamie Candee. “Our guiding principle of ‘educator first’ ensures that we always keep teachers at the center of our operations, and we are relentlessly focused on a strategy that balances growth with impact. Edmentum’s emphasis on great programs that are flexible, rooted in strong pedagogy, and designed to meet the needs of today’s diverse classrooms ensures that we build school around every student. I would like to thank our current investment partners, New Mountain Finance Corporation and funds managed by BlackRock, for choosing to continue with Edmentum, and look forward to Vistria’s support in our next phase of growth.”
The Vistria Group is a next-generation private investment firm that operates at the intersection of purpose and profit. Vistria has a proven track record of success in the education market. Its global portfolio of education companies offers undergraduate, graduate, and professional development programs and services. This investment in Edmentum will add a powerful suite of K-Adult instructional programs into the Vistria portfolio. As a premier provider of education solutions in the market today, Edmentum’s unique blend of research-based digital curriculum, assessments for learning, and educational consulting are unmatched.
“Education is a foundational pillar of our society, and we are in a time where technology can exponentially increase the reach and impact of education to serve all learners more effectively,” said Phil Alphonse, Senior Partner at The Vistria Group. “Edmentum sits at the intersection of curriculum and assessment and is well-positioned for accelerated growth in a post-COVID environment. The company’s portfolio breadth and depth, market position, and focus on global community impact through its non-profit organization, We Can Learn, make it an attractive investment in the education market, and we look forward to our partnership together.”
Under the terms of this investment, The Vistria Group will become the majority stakeholder in Edmentum. New Mountain Finance Corporation and funds managed by BlackRock will retain ownership positions.
“At a time when demand for sophisticated educational solutions couldn’t be higher, Edmentum’s growth has exceeded expectations. We look forward to partnering with The Vistria Group and Edmentum in this next phase as the company continues to support educators and students across all learning environments,” said New Mountain Finance Corporation CEO Rob Hamwee.
“Edmentum has made strong progress as a leader in education technology and we believe this new investment will help the company accelerate its mission of transforming education and fueling the creation of meaningful learning opportunities for every student. We look forward to continuing to support Edmentum in this next chapter of growth,” said Raj Vig, Managing Director at BlackRock.
BMO Capital Markets Corp. is acting as exclusive financial advisor to Edmentum. Dechert LLP is acting as legal advisor to Edmentum. Winston & Strawn LLP is providing legal counsel to The Vistria Group, and Macquarie Capital is acting as its exclusive financial advisor.
Edmentum, Inc. is committed to making it easier for educators to individualize learning for every student through simple technology, high-quality content, and actionable data. Founded in innovation, Edmentum’s powerful learning solutions blend technology with individual teaching approaches. Edmentum is committed to being educators’ most trusted partner in creating successful student outcomes everywhere learning occurs. Built on fifty years of experience in education, Edmentum solutions currently support educators and students in more than 40,000 schools nationwide. For more information, visit edmentum.com.
About The Vistria Group
The Vistria Group is a Chicago-based private investment firm focused on investing in middle market companies in the healthcare, education, and financial services sectors. Vistria’s team is comprised of highly experienced operating partners and private equity executives with proven track records of working with management teams in building innovative, market-leading companies. For more information, please visit vistria.com.
About New Mountain Finance Corporation
New Mountain Finance Corporation is a closed-end, non-diversified and externally managed investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. The Company’s investment objective is to generate current income and capital appreciation through the sourcing and origination of debt securities at all levels of the capital structure, including first and second lien debt, notes, bonds and mezzanine securities. The Company’s first lien debt may include traditional first lien senior secured loans or unitranche loans. Unitranche loans combine characteristics of traditional first lien senior secured loans as well as second lien and subordinated loans. Unitranche loans will expose the Company to the risks associated with second lien and subordinated loans to the extent it invests in the “last out” tranche. In some cases, the investments may also include small equity interests. The Company’s investment activities are managed by its Investment Adviser, New Mountain Finance Advisers BDC, L.L.C., which is an investment adviser registered under the Investment Advisers Act of 1940, as amended. More information about New Mountain Finance Corporation can be found on the Company’s website at newmountainfinance.com.
BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, our clients turn to us for the solutions they need when planning for their most important goals. As of September 30, 2020, the firm managed approximately $7.81 trillion in assets on behalf of investors worldwide. For additional information on BlackRock, please visit blackrock.com