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Four firms touch down for Apollo acquisition
Minter Ellison and Clifford Chance have advised in a $US2.4 billion acquisition in the education sector.
Digital
Firms: Minter Ellison and Paul, Weiss, Rifkind, Wharton & Garrison LLP (Apollo Global Management, LLC), Clifford Chance and Wachtell, Lipton, Rosen & Katz (vendor)
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Deal: US fund Apollo Global Management acquires McGraw-Hill Education
Area: Education/publishing
Value: US$2.4 billion
Key players: Corporate partner Bart Oude-Vrielink (pictured) and senior associate Sam Lawson led for Minters, together with Silvana Schenone and Harriet Blackburn from Minter Ellison Rudd Watts in Auckland.
Deal significance: Investment funds affiliated with Apollo Global Management have acquired the McGraw-Hill education business which has operations across Europe, North and South America, Asia and Australasia.
“The growing influence of technology is changing the nature of education publishing,” said Oude-Vrielink.
Apollo Global Management is one of the world’s largest alternative investment managers, with more than $US 113 billion of assets under management.
Senior partner of Apollo, Larry Berg, said the fund would seek to leverage McGraw-Hill’s leading portfolio of trusted brands and innovative digital learning solutions to drive growth on a global basis through the ongoing convergence of education and technology.
