Secondary Buyout • Publishing

Levine Leichtman Capital Partners Acquires GL Education

On May 31, 2016, mezzanine finance firm Levine Leichtman Capital Partners acquired publishing company GL Education from Investcorp

Acquisition Context
  • This is Levine Leichtman Capital Partners’ 2nd transaction in the Publishing sector.
  • This is Levine Leichtman Capital Partners’ 2nd transaction in the United Kingdom.
Investment Fate
  • GL Education was sold to a strategic buyer in 2023.

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M&A Deal Summary

Date May 31, 2016
Target GL Education
Sector Publishing
Buyer(s) Levine Leichtman Capital Partners
Sellers(s) Investcorp
Deal Type Secondary Buyout

Target Company

GL Education

Brentford, United Kingdom
GL Education is an educational multimedia company, publishing innovative, curriculum-based resources for the UK and abroad. It currently supplies more than ninety-five per cent of schools in the UK and exports to more than thirty countries internationally, with a catalogue of over 800 software and hardware products. GL Education was founded in 1980 and is based in Brentford, United Kingdom.
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Buyer Overview 1

Buyer

Levine Leichtman Capital Partners

Beverly Hills, California, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1984
PE ASSETS 12.9B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Levine Leichtman Capital Partners (LLCP) is a West Coast US based private investment firm that targets mezzanine and other structured equity investments in middle-market companies. The Firm has several funds, each with different strategies. LLCP's larger fund targets subordinated debt, preferred equity, and/or common equity investments in companies with $100 to $750 million of revenue. The Firm's smaller fund invests $5 to $15 million in emerging companies with less than $25 million in revenue. LLCP also invests in financially distressed businesses. LLCP was formed in 1984 and has offices in Beverly Hills, California; Chicago, Illinois; Dallas, Texas; New York City; and London.


Deal Context for Buyer #
Overall 51 of 93
Sector: Publishing 2 of 3
Type: Secondary Buyout 14 of 38
Country: United Kingdom 2 of 9
Year: 2016 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-16 Pacific Handy Cutter

Irvine, California, United States

Pacific Handy Cutter is a designer, manufacturer, and marketer of branded razor cutting tools with enhanced safety features designed to eliminate workplace injuries and product damage in commercial backroom operations. Pacific Handy Cutter was founded in 1950 and is based in Irvine, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-20 Revenew International

Houston, Texas, United States

Revenew International provides cost recovery and cost containment services that deliver monetary recoveries and cost reduction benefits. Revenew offers a comprehensive suite of services including complex contract compliance and accounts payable reviews that address acute needs across clients’ entire procurement-to-payment cycle. Revenew’s superior service delivery and fee structure provide a unique and highly compelling value proposition to its clients. Revenew International is based in Houston, Texas.

Sell -

Seller Profile 1

SELLER

Investcorp

New York, New York, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1982
PE ASSETS 53.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Investcorp is a global investment group focused on a variety of investment disciplines. Practice areas include private equity in North America and Western Europe, hedge funds, US real estate, technology investments, and Middle Eastern private equity. Within North America/Europe private equity, Investcorp targets market leaders with proven track records. It looks to invest $15 to $50 million in companies with revenues of $10 to $250 million. Investcorp's technology group sponsors growth-oriented control investments in the tech sector. Investcorp's Middle East practice focuses on buyout/build opportunities in North Africa and the Gulf Region. Target sectors include services, infrastructure, manufacturing, and energy. Investcorp was formed in 1982 and is based in Manama, Bahrain.


Deal Context for Seller #
Overall 78 of 111
Sector: Publishing 1 of 1
Type: Secondary Buyout 23 of 37
Country: United Kingdom 10 of 14
Year: 2016 5 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-19 CSIdentity

Austin, Texas, United States

CSIdentity Corp. is a technology provider to identity theft and fraud protection services to businesses and consumers.

Sell $360M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-21 Corneliani

Mantua, Italy

Corneliani is a luxury clothing brand best known for its men’s suits and chic casualwear and is one of the oldest independent Italian luxury brands. Founder Carlalberto Corneliani has, alongside his brother Claudio Corneliani, built a business whose clothing line has become reputed across the international luxury apparel industry. The firm’s expansion into the casual wear market has seen its international presence grow significantly and more recently into emerging markets. Corneliani was founded in 1958 and is based in Mantua, Italy.

Buy -