Add-on Acquisition • Distribution

School Specialty Acquires Nasco Education

On December 8, 2025, School Specialty acquired distribution company Nasco Education from EagleTree Capital

Acquisition Context
  • This is School Specialty’s 1st transaction in the Distribution sector.
  • This is School Specialty’s 6th transaction in the United States.
  • This is School Specialty’s 2nd transaction in Wisconsin.

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M&A Deal Summary

Date December 8, 2025
Target Nasco Education
Sector Distribution
Buyer(s) School Specialty
Sellers(s) EagleTree Capital
Deal Type Add-on Acquisition

Target Company

Nasco Education

Fort Atkinson, Wisconsin, United States
Nasco Education is a developer and value-added distributor of specialty products for the education, healthcare training, laboratory testing, and agricultural end markets. Nasco provides an expansive selection of products offered through more than 50 branded catalogs, 12 distinct brands, six websites, and a network of global distributors. Products include supplemental educational hands-on-learning materials and supplies, healthcare training manikins and medical simulation devices, sterile sampling bags, and agricultural items. Nasco Education is based in Fort Atkinson, Wisconsin.
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Buyer Overview 1

Buyer

School Specialty

Greenville, Wisconsin, United States

Category Company
Founded 1959
Sector E-Commerce
Employees1,136
Revenue 626M USD (2019)
DESCRIPTION

School Specialty is a provider of online educational products and services to the Pre-K- 12th grade market in the U.S. and Canada. The company designs, manufactures and distributes a broad assortment of furniture & equipment, educational technology, general and specialty classroom supplies, facility supplies, safety and security products, and core and supplemental curriculum for science, math and English language arts. School Specialty was founded in 1959 and is based in Greenville, Wisconsin.


Deal Context for Buyer #
Overall 7 of 7
Sector: Distribution 1 of 1
Type: Add-on Acquisition 6 of 6
State: Wisconsin 2 of 2
Country: United States 6 of 6
Year: 2025 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-03 FlagHouse

Hasbrouck Heights, New Jersey, United States

FlagHouse is a provider of equipment and programs serving physical education, recreation, special needs therapy, and healthcare customers. FlagHouse was founded in 1954 and is based in Hasbrouck Heights, New Jersey.

Buy -

Seller Profile 1

SELLER

EagleTree Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2001
PE ASSETS 4.8B USD
Size Large
Type Sector Agnostic
DESCRIPTION

EagleTree Capital is an independent private equity and investment firm focused on mid-market leveraged buyouts. The Firm's buyout group looks to invest $50 to $200 million to support acquisitions of profitable companies in the media/communications, consumer products, and water/industrial products and services sectors. EagleTree Capital was formerly known as Wasserstein Partners, an investment firm formed by Bruce Wasserstein, the late CEO of investment bank Lazard Freres. EagleTree Capital is based in New York City.


Deal Context for Seller #
Overall 29 of 30
Sector: Distribution 1 of 1
Type: Add-on Acquisition 15 of 16
State: Wisconsin 1 of 1
Country: United States 27 of 28
Year: 2025 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-08-28 Northstar Travel Group

Rutherford, New Jersey, United States

Northstar Travel Group is a provider of business-to-business information, content, events, data, research, custom content, and software dedicated to the global travel and meetings industries. Northstar is the owner of well-known brands and products, including Travel Weekly, TravelAge West, Business Travel News, Successful Meetings, Meetings & Conventions, Travel Weekly China, Incentive, M&C China, Phocuswright, and Inntopia. Northstar Travel Group was founded in 1989 and is based in Rutherford, New Jersey.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-12-16 Moss

Franklin Park, Illinois, United States

Moss provides three-dimensional marketing solutions to customers across retail, exhibits, events, sports, and commercial markets. Moss’s products include tension fabric structures, speciality signage such as radiance lightboxes and non-fabric displays, and large-format imaging for wall coverings and portable displays. Moss was founded in 1975 and is based in Franklin Park, Illinois.

Sell -