McGraw-Hill Education, one of the largest eduction companies in America, filed for an initial public offering Friday afternoon. It could be valued at up to $6 billion, according to reports.
University of Illinois Library CC BY / Via Flickr: illinoislibrary
McGraw-Hill Education, one of the country's largest education companies, filed for an initial public offering Friday afternoon.
In 2014, the company was sold by McGraw-Hill, its publicly-traded parent company, to private equity firm Apollo for $2.4 billion. Reuters reported the IPO is likely to value the company at $5 to $6 billion, including a hefty $2 billion in debt.
Here are five things we learned about the company from its IPO filing.
For most of its life, McGraw-Hill Education has been a textbook company. But most of its higher education business is now digital, and a growing portion of its elementary school business is, too. McGraw-Hill says it wants its business to be all-digital as quickly as possible — it's just waiting for school districts and college professors to catch up.
McGraw-Hill's private equity owner, Apollo Global, is leaving it with a lot of debt, as private equity owners tend to do. The company has $2.2 billion in debt, and made $1.8 billion in revenues last year.
5 Things We Learned From The Latest Big Education IPO Filing http://ift.tt/1fZKmjY
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