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FTI Consulting handles Anthology, the ed-tech firm (owner of Blackboard, Ally, and Illuminate), which has declared Chapter 11 under the weight of $1.7B in debt.
The restructuring plan calls for the sell-off of three of its businesses, and investments by Oaktree Capital Management and Nexus Capital Management into a reorganized teaching and learning unit.
“With the strong support of our investors, a recapitalized teaching & learning platform is well positioned to invest in new capabilities, drive greater efficiency, and help our customers stay focused on what matters most: delivering exceptional outcomes for students,” said Bruce Dahlgren, CEO of Anthology.
The teaching & learning standalone business will be debt-free and infused with at least $50M to support its growth.
Anthology expects to complete its financial restructuring over the next six months.
FTI Consulting’s Rachel Chesley and Diana Sangiorgio advise Anthology on financial and communications matters.
Prosek Partners represents Nuveen as it acquires London-based Schroders, which relies on Brunswick Group for PR counsel, in a $13.5B deal.
Qualcomm has recruited Brett Simpson for the senior VP-IR slot at the San Diego-based wireless technology company.
Reevemark handles Eddie Bauer LLC as the retailer inks a Chapter 11 restructuring pact that has it conducting liquidation sales at its US and Canadian stores while working to find a buyer for either all of or part of the chain.
Prosek Partners hires FTI Consulting vet David Roady to build and deepen its relationships in the corporate sector, particularly with chief communications officers and C-suite executives.
Kekst CNC handles Crestview Partners as the private equity firm acquires Tailwind Hospitality, operator of food, beverage and retail concessions in non-hub and regional airports, from Palladin Consumer Retail Partners.
