Nelson Education completes sale to lenders, overhauls board
Educational publisher Nelson Education Ltd has appointed a full slate of board directors, following the sale of the company to its financial investors, effective October 1st. As reported by PE Hub Canada in June, Nelson, which recently obtained creditor protection, agreed to yield control of the business to its first lien lenders. The new board reflects senior representatives of these lenders, which include Ares Management, Mudrick Capital Management and Sound Point Capital Management. Toronto-based Nelson and its U.S.-based affiliate Cengage Learning were bought by Apax Partners and OMERS Private Equity in 2007.
21 October 2015•6 mins read
