Private equity firm Apollo Global’s long journey with McGraw Hill is coming to an end, with an agreement to sell the publisher to yet another private equity company, Platinum Equity. The deal is valued at $4.5 billion including debt. With debt at the end of 2020 of about $2.23 billion, it means the new owner is actually spending (or further borrowing) about $2.25 billion, and taking on about that much in existing debt. McGraw Hill’s planned merger with Cengage was abandoned in May 2020 after facing objections from regulators in the US and UK. Prior to that, the company had […]
