Houghton Mifflin Harcourt will reap a welcome cash infusion with the sale of their Riverside Assessments division to private equity firm Alpine Investors for $140 million. HMH plans to invest the $135 million cash proceeds “in its Extensions businesses, supporting its strategy to create integrated solutions and improve student outcomes.” The deal is expected to close “early in the fourth quarter.” Alpine is adding Riverside’s clinical and standardized testing business to a portfolio that already includes Woodcock-Johnson family, the Cognitive Abilities Test (CogAT), Iowa Assessments and others. HMH says it is retaining “assessment solutions critical to effective differentiation of classroom instruction, including Reading Inventory, Math Inventory, Phonics Inventory and Reading […]
