NEW YORK, and LONDON, July 5 /PRNewswire/ -- Funds advised by Apax
Partners announced today that, together with OMERS Capital Partners, they
have completed the previously announced acquisition of the higher
education, careers and library reference assets of Thomson Learning and
Nelson Canada from The Thomson Corporation (NYSE: TOC; TSX: TOC). The
transaction had a combined total value of approximately US$7.75 billion.
The higher education, careers and library reference assets include such
well-known brands and businesses as: Wadsworth, Delmar Learning, Gale,
Heinle, Brooks/Cole and South-Western. Nelson Canada, a leading provider of
books and online resources for the educational market in Canada, is now
majority-owned by OMERS.
Jackie Reses, Partner at Apax Partners, said: "We look forward to
working in close partnership with the company's management team, led by Ron
Dunn and Dave Shaffer, as they build upon the already strong franchises
represented by the Thomson Learning properties."
Christian Stahl, Partner at Apax Partners, continued: "The Thomson
Learning properties historically have delivered stable and predictable
growth, and they are underpinned by healthy market dynamics. We will work
with management to capture the enormous potential that we believe exists as
the businesses continue to expand internationally, and play an important
role in enabling the evolution to digital content distribution in
Paul Renaud, President & CEO at OMERS Capital Partners, said: "We are
pleased to have completed the acquisition of the Thomson Learning
properties along with Apax Partners, and look forward to working closely
with Greg Pilon, the President & CEO of Thomson Nelson Canada, and his
team, to continue the growth and financial success of the business."
Evercore Partners Incorporated and Atlas Advisors served as financial
advisors to Apax Partners and OMERS Capital Partners on the acquisition.
Acquisition finance was provided by JPMorgan, The Royal Bank of Scotland,
Citigroup, UBS and The Royal Bank of Canada.
About Apax Partners
Apax Partners (http://www.apax.com) is one of the world's leading
private equity investment groups. It operates across the United States,
Europe and Asia and has more than 30 years of investing experience. Funds
under the advice of Apax Partners total in excess of $20 billion around the
world. These Funds provide long-term equity financing to build and
strengthen world- class companies. Apax Partners Funds invest in companies
across its global sectors of Tech & Telecom, Retail & Consumer, Media,
Healthcare and Financial & Business Services
Over the past ten years, Apax has been one of the most active investors
in media and communications with over $5.8 billion of equity invested.
Recent investments include TDC ($17.6 billion), Thomson Learning ($7.8
billion), Intelsat ($5.0 billion), CME ($3.0 billion), Yell Group ($3.0
billion), Trader Media Group ($2.7 billion), VNU World Directories ($2.6
billion) and Hit Entertainment ($1.0 billion).
About OMERS Capital Partners
OMERS Capital Partners manages the private equity investment for OMERS
Administration Corporation. OMERS has a 10% allocation to the private
equity asset class and currently has private equity investments in excess
of Cdn $2.5 billion. OMERS is a multi-employer pension plan established in
1962 and is one of the largest and most sophisticated asset management
entities in Canada. As one of Canada's largest pension plans, OMERS
provides pension services to about 372,000 active and retired members and
almost 900 employers. With over Cdn $48 billion in assets and a global
mandate, OMERS invests actively and directly in a wide range of securities
including public equity, real estate, infrastructure and private equity.
About Thomson Learning
Through such well-known brands and businesses as Wadsworth, Delmar
Learning, Gale, Heinle, Brooks/Cole and South-Western, Thomson Learning
delivers learning solutions for colleges, universities, professors,
students, reference centers, government agencies, corporations and
professionals around the world. These solutions are delivered through
specialized content, applications and services that foster academic
excellence and professional development, as well as provide measurable
learning outcomes to its customers. Thomson Learning's mission is to shape
the future of global learning by delivering consistently better learning
solutions for learners, instructors and institutions. You can learn more
about Thomson Learning at: http://www.thomsonlearning.com.
For Apax Partners
Kekst and Company
+44 (0)20 7872 6401
SOURCE Apax Partners