Transaction supports PowerSchool’s next chapter
as a private standalone company
PowerSchool Holdings, Inc. (“PowerSchool” or the “Company”), a
leading provider of cloud-based software for K-12 education, today
announced the close of its acquisition by Bain Capital for $22.80
per share in cash, representing a total enterprise value of
approximately $5.6 billion.
PowerSchool’s software solutions support over 60 million
students and over 18,000 customers in more than 90 countries. The
Company brings together the best of K-12 educational and
operational technology to enhance every step of a student’s
learning journey.
“We could not be more excited to enter this next phase of
PowerSchool’s development, which will further its mission of
delivering differentiated education software to drive better
student outcomes, empower educators, and help districts operate
more efficiently,” said Hardeep Gulati, Chief Executive Officer of
PowerSchool. “Together with Bain Capital, PowerSchool will continue
to drive industry-leading innovation, particularly with PowerBuddy,
our generative AI platform, and scale our global reach, helping
more schools personalize education for every student journey.”
“PowerSchool is aligned, throughout its entire organization, to
its mission to personalize education and improve learning outcomes.
We’ve had the privilege of seeing the leadership team’s dedication
to this mission through a world-class product innovation engine,”
said David Humphrey, a Partner at Bain Capital. “We are thrilled to
support PowerSchool’s mission and growth as it becomes a private
company. This is a significant milestone that builds on
PowerSchool’s strong foundation and vast potential to deliver the
power of its exceptional software solutions to a growing number of
administrators, educators, parents, and students worldwide,” added
Max de Groen, a Partner at Bain Capital.
PowerSchool’s common stock will no longer be publicly listed on
the New York Stock Exchange, and PowerSchool will continue
operations as a privately held company.
As part of the transaction, Vista Equity Partners and Onex
Partners have each retained a minority investment in
PowerSchool.
“Since our initial investment, PowerSchool has experienced a
significant transformation, driven by strong leadership and our
partnership with Hardeep,” said Monti Saroya, Co-Head of Vista’s
Flagship Fund and Senior Managing Director. “We are confident that
PowerSchool’s relentless focus on product innovation—especially
through embracing generative AI—and tactical expansion of its
capabilities can further enhance education globally in this next
phase.”
“Supporting Hardeep and PowerSchool in the mission to transform
K-12 education through technology has been rewarding and a
privilege for Onex,” said Laurence Goldberg, Managing Director at
Onex Partners. “We are confident in the Company’s ability to
continue innovating to enhance the learning experience and improve
outcomes for students, educators, administrators and parents.”
Advisors
Goldman Sachs & Co. LLC acted as the exclusive financial
advisor, and Kirkland & Ellis LLP served as legal advisor to
PowerSchool. Centerview Partners LLC acted as the exclusive
financial advisor, and Freshfields Bruckhaus Deringer LLP served as
legal advisor to the Special Committee of the PowerSchool Board of
Directors. Ropes & Gray LLP acted as legal advisor to Bain
Capital.
Debt financing for the transaction was provided by Ares Capital
Management, HPS Investment Partners, Blackstone Alternative Credit
Advisors, Blue Owl Credit Advisors, Sixth Street Partners, and
Golub Capital.
About PowerSchool
PowerSchool is a leading provider of cloud-based software for
K-12 education in North America. Its mission is to empower
educators, administrators, and families to ensure personalized
education for every student journey. PowerSchool offers end-to-end
product clouds that connect the central office to the classroom to
the home with award-winning products including Schoology Learning
and Naviance CCLR, so school districts can securely manage student
data, enrollment, attendance, grades, instruction, assessments,
human resources, talent, professional development, special
education, data analytics and insights, communications, and college
and career readiness. PowerSchool supports over 60 million students
and over 18,000 customers in more than 90 countries, including more
than 90 of the top 100 districts by student enrollment in the
United States. Learn more at www.powerschool.com.
© PowerSchool. PowerSchool and other PowerSchool marks are
trademarks of PowerSchool Holdings, Inc. or its subsidiaries. Other
names and brands may be claimed as the property of others.
About Bain Capital
Bain Capital, LP is one of the world’s leading private
multi-asset alternative investment firms that creates lasting
impact for our investors, teams, businesses, and the communities in
which we live. Since our founding in 1984, we’ve applied our
insight and experience to organically expand into numerous asset
classes including private equity, credit, public equity, venture
capital, real estate, life sciences, insurance and other strategic
areas of focus. The firm has offices on four continents, more than
1,800 employees and approximately $185 billion in assets under
management. To learn more, visit www.baincapital.com.
About Vista Equity Partners
Vista is a leading global investment firm with more than $100
billion in assets under management as of March 31, 2024. The firm
exclusively invests in enterprise software, data and
technology-enabled organizations across private equity, permanent
capital, credit and public equity strategies, bringing an approach
that prioritizes creating enduring market value for the benefit of
its global ecosystem of investors, companies, customers and
employees. Vista's investments are anchored by a sizable long-term
capital base, experience in structuring technology-oriented
transactions and proven, flexible management techniques that drive
sustainable growth. Vista believes the transformative power of
technology is the key to an even better future – a healthier
planet, a smarter economy, a diverse and inclusive community and a
broader path to prosperity. Further information is available at
vistaequitypartners.com. Follow Vista on LinkedIn, @Vista Equity
Partners, and on X, @Vista_Equity.
About Onex Corporation
Onex invests and manages capital on behalf of its shareholders
and clients across the globe. Formed in 1984, we have a long track
record of creating value for our clients and shareholders. Our
investors include a broad range of global clients, including public
and private pension plans, sovereign wealth funds, insurance
companies, family offices and high-net-worth individuals. In total,
Onex has $49 billion in assets under management, of which $8.5
billion is Onex’ own investing capital. With offices in Toronto,
New York, New Jersey and London, Onex and its experienced
management teams are collectively the largest investors across
Onex’ platforms.
Onex is listed on the Toronto Stock Exchange under the symbol
ONEX. For more information on Onex, visit www.onex.com. Onex’
security filings can also be accessed at www.sedarplus.ca.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240930360513/en/
For PowerSchool: Investor Relations
Shane Harrison investor.relations@PowerSchool.com 855-707-5100
Media Relations Beth Keebler public.relations@powerschool.com
503-702-4230
For Bain Capital: Charlyn
Lusk/Scott Lessne 646-502-3549/646-502-3569
clusk@stantonprm.com/slessne@stantonprm.com
For Vista Equity Partners: Brian W.
Steel media@vistaequitypartners.com 212-804-9170
For Onex Corporation: Jill Homenuk
shareholderrelations@onex.com 416-362-7711
PowerSchool (NYSE:PWSC)
Graphique Historique de l'Action
De Déc 2024 à Jan 2025
PowerSchool (NYSE:PWSC)
Graphique Historique de l'Action
De Jan 2024 à Jan 2025
