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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.
BGR Group represents Noble Supply and Logistics as it files for Chapter 11 due to a change in its weapons support contract with the Defense Logistics Agency.
C Street Advisory Group is handling the Chapter 11 filing of LIV Golf following the move by Saudi Arabia’s Public Investment Fund to pull the financial plug on the League. (Updated)
Teneo handles Bamboo Insurance Services as the Midvale, UT-based marketer of homeowner policies files a Form S-1 statement with the SEC for an initial public offering.
FTI Consulting handles West Marine as the nation’s leading retailer of marine parts and accessories for boating, fishing and sailing enthusiasts emerges from Chapter 11 bankruptcy.
Throughline Global Advisors represents Principal Mineral as it acquires Conductive Group, manufacturer of advanced materials for the aerospace, telecommunications and electronics sectors.
