(London, April 2006) The van Tulleken Company is pleased to announce the acquisition of Granada Learning, the educational publishing division of ITV plc, by Veronis Suhler Stevenson, for £53 million. The van Tulleken Company represented ITV in the transaction. The initial consideration consists of £35 million, satisfied through a mixture of cash and vendor loan notes, with a further £18 million payable subject to the performance of the business over the next two years. The Granada Learning Group includes the following leading imprints: nferNelson; Letts Educational; Leckie & Leckie; and David Fulton. Commenting on the transaction, Kit van Tulleken Chief Executive of The van Tulleken Company, said: "We are delighted to have completed this important transaction in U.K. education. Granada Learning is the leading non-statutory testing company in the U.K. and is at the forefront of educational software development." About The van Tulleken Company: The van Tulleken Company is a leading international advisor to corporate clients, media executives and entrepreneurs on mergers and acquisitions in the publishing and information industries and all areas of intellectual property. With offices in New York and London, its clients include large international companies as well as small and medium-sized private firms in the United States, the United Kingdom and Continental Europe. In the last five months, The van Tulleken Company has concluded a number of significant transactions in the Academic and Education sectors, including: Paravia Bruno Mondadori (PBM), a leading Italian education publisher, to Pearson plc; Philip Allan Publishers Ltd to Hachette Livre; Cavendish Publishing Limited to Informa plc; and an investment in iParadigms, the leading plagiarism detection software company located in San Francisco. Veronis Suhler Stevenson Veronis Suhler Stevenson is a private equity investment firm dedicated to media investments in Europe and North America. David Smith, former Chairman of T&F Informa plc, has assumed the role of Executive Chairman of Granada Learning. Mr. Smith has over 25 years of experience in the European education sector. Commenting on the acquisition, he said "I am delighted to be part of this exciting opportunity. Granada Learning is well placed to capitalise on the changes taking place in the Education sector with its existing wide range of products and services and its new developments.'' Marco Sodi, Partner at Veronis Suhler Stevenson, added "Granada Learning products and brands are amongst the most recognised in U.K. education. Its nferNelson tests are leaders in assessment while the Letts Revision Guides, the Blackcat and Semerc software products are well known to teachers and pupils alike. We look forward to working with David Smith and the Granada Learning team to pursue the opportunities offered by the significant projected investment in the U.K. education sector".
(London, April 2006) The van Tulleken Company is pleased to announce the acquisition of Granada Learning, the educational publishing division of ITV plc, by Veronis Suhler Stevenson, for £53 million. The van Tulleken Company represented ITV in the transaction.
The initial consideration consists of £35 million, satisfied through a mixture of cash and vendor loan notes, with a further £18 million payable subject to the performance of the business over the next two years. The Granada Learning Group includes the following leading imprints: nferNelson; Letts Educational; Leckie & Leckie; and David Fulton. Commenting on the transaction, Kit van Tulleken Chief Executive of The van Tulleken Company, said: "We are delighted to have completed this important transaction in U.K. education. Granada Learning is the leading non-statutory testing company in the U.K. and is at the forefront of educational software development."
About The van Tulleken Company: The van Tulleken Company is a leading international advisor to corporate clients, media executives and entrepreneurs on mergers and acquisitions in the publishing and information industries and all areas of intellectual property. With offices in New York and London, its clients include large international companies as well as small and medium-sized private firms in the United States, the United Kingdom and Continental Europe.
In the last five months, The van Tulleken Company has concluded a number of significant transactions in the Academic and Education sectors, including: Paravia Bruno Mondadori (PBM), a leading Italian education publisher, to Pearson plc; Philip Allan Publishers Ltd to Hachette Livre; Cavendish Publishing Limited to Informa plc; and an investment in iParadigms, the leading plagiarism detection software company located in San Francisco.
Veronis Suhler Stevenson
Veronis Suhler Stevenson is a private equity investment firm dedicated to media investments in Europe and North America. David Smith, former Chairman of T&F Informa plc, has assumed the role of Executive Chairman of Granada Learning. Mr. Smith has over 25 years of experience in the European education sector. Commenting on the acquisition, he said "I am delighted to be part of this exciting opportunity. Granada Learning is well placed to capitalise on the changes taking place in the Education sector with its existing wide range of products and services and its new developments.'' Marco Sodi, Partner at Veronis Suhler Stevenson, added "Granada Learning products and brands are amongst the most recognised in U.K. education. Its nferNelson tests are leaders in assessment while the Letts Revision Guides, the Blackcat and Semerc software products are well known to teachers and pupils alike. We look forward to working with David Smith and the Granada Learning team to pursue the opportunities offered by the significant projected investment in the U.K. education sector".
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