Veronis Suhler Stevenson picks up education company(2)

Veronis Suhler Stevenson has bought Cambium Learning, an education company, for about $300m (€230m).

Veronis Suhler Stevenson, a New York and London-based private equity firm, is acquiring Cambium Learning, an education company, from J.H. Whitney & Co., a US private equity firm, for an undisclosed amount.

Eric van Ert, managing director at Veronis Suhler Stevenson, refused to confirm the size of the deal, but sources close to the firm said it was more than $300 million.

Founded in 2002, US-based Cambium Learning is one of the largest providers of intervention solutions designed specifically for younger “at risk” and special students.

Veronis Suhler Stevenson is backing the existing management team and co-founders, including Dave Cappellucci, who will take over from Jonathan Newcomb as chief executive.

Nader Darehshori, co-founder and former chairman will remain on the board of directors.

Founded in 1981, Veronis Suhler Stevenson has about $2.8 billion under management.