M&A Deal Summary

Madison Dearborn Partners Acquires Carnegie Learning

On October 22, 2020, private equity firm Madison Dearborn Partners acquired education company Carnegie Learning from CIP Capital

Acquisition Highlights
  • This is Madison Dearborn Partners’ 1st transaction in the Education sector.
  • This is Madison Dearborn Partners’ 74th transaction in the United States.
  • This is Madison Dearborn Partners’ 3rd transaction in Pennsylvania.

M&A Deal Summary
Date 2020-10-22
Target Carnegie Learning
Sector Education
Buyer(s) Madison Dearborn Partners
Sellers(s) CIP Capital
Deal Type Secondary Buyout
Advisor(s) Macquarie Capital (Financial)
Willkie Farr & Gallagher (Legal)

Target

Carnegie Learning

Pittsburgh, Pennsylvania, United States
Carnegie Learning is a comprehensive, dynamic, and progressive learning technology company. Advocating a belief in teaching and determination to help students develop as learners and thinkers, Carnegie Learning is seeking to re-define the role of technology across the K-16 landscape. Its mathematics and STEM division delivers a research-proven mathematics curriculum and the MATHia platform for grades 6-12, developmental math support for 2- and 4-year colleges, project-based digital solutions for STEM, and best-in-class K-12 professional learning services. Carnegie Learning was formed in 1997 and is based in Pittsburgh, Pennsylvania.

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Buyer(S) 1

Buyer

Madison Dearborn Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1992
PE ASSETS 28.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Madison Dearborn Partners (MDP) is a large private equity firm that targets buyouts of private or publicly held companies, divestitures of larger companies, recapitalizations of family-owned or closely-held companies, acquisition-oriented financings, and financings to fund internal growth. MDP's target investment size is $100 to $600 million in buyout oriented transactions and $100 to $400 million in growth capital commitments. Areas of interest include basic industries (natural resources, chemicals, energy and power, automotive, building products, food, metals and mining, refining, paper, packaging and forest products, and general manufacturing), as well as communications, consumer products/services, financial services, and healthcare. Madison Dearborn Partners was formed in 1992 and is based in Chicago, Illinois.

DEAL STATS #
Overall 88 of 99
Sector (Education) 1 of 1
Type (Secondary Buyout) 18 of 19
State (Pennsylvania) 3 of 4
Country (United States) 74 of 85
Year (2020) 7 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-29 IPL Plastics

Montreal, Quebec, Canada

IPL Plastics is a sustainable packaging solutions provider primarily in the food and consumer, agricultural, logistics and environmental end-markets operating from multiple production facilities in Canada, the U.S., the U.K., Ireland, China and Mexico. IPL Plastics was founded in 1939 and is based in Montreal, Quebec.

Buy CA$981M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-21 Specialty Building Products

Duluth, Georgia, United States

Specialty Building Products is a distributor of specialty residential building products and provider of critical logistics solutions for the complex building products supply chain. SBP has entrenched market positions across high-growth product categories including exterior siding and trim, composite decking and railing, moulding and millwork, interior finish and engineered wood. Specialty Building Products is based in Duluth, Georgia.

Sell -

Seller(S) 1

SELLER

CIP Capital

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2010
Size Middle-Market
Type Sector Focused
DESCRIPTION

CIP Capital is a private equity firm focused on control investments in middle-market, North American business information and outsourced service companies. Specific areas of interest include B2B information management, business process outsourcing, marketing services and knowledge services. CIP looks to invest $25 to $125 million in transactions valued up to $200 million. Funds are typically used to fund buyouts or growth initiatives. CIP Capital was formed in 2010 and is based in New York City.

DEAL STATS #
Overall 7 of 13
Sector (Education) 3 of 3
Type (Secondary Buyout) 3 of 6
State (Pennsylvania) 1 of 2
Country (United States) 7 of 13
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-10 3Pillar Global

Fairfax, Virginia, United States

3Pillar Global is an outsourced provider of software product development and design services for customer-facing, revenue-generating applications. The Company provides “Product Development as a Service” to industry-leading enterprise logos including Carfax, Fortune, and PBS. 3Pillar Global was founded in 2006 and is based in Fairfax, Virginia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-02 People2.0

King of Prussia, Pennsylvania, United States

People2.0 is a tech-enabled workforce deployment platform that provides employer of record/agent of record services and associated back-office support to staffing & recruiting firms, managed service providers, online recruitment platforms, recruitment process outsourcing, compliance service companies, and other talent acquisition service providers. People2.0 was founded in 2001 and is based in King of Prussia, Pennsylvania.

Sell -
Mergr

Product

Company

Legal