Funds advised by Apax Partners and Omers Capital Partners complete acquisition of Thomson Learning Higher Education assets from Thomson for US$7.75 billionNew York and London July 5, 2007 Funds advised by Apax Partners announced today that, together with OMERS Capital Partners, they have completed the previously announced acquisition of the higher education, careers and library reference assets of Thomson Learning and Nelson Canada from The Thomson Corporation (NYSE: TOC; TSX: TOC). The transaction had a combined total value of approximately US$7.75 billion. The higher education, careers and library reference assets include such well-known brands and businesses as: Wadsworth, Delmar Learning, Gale, Heinle, Brooks/Cole and South-Western. Nelson Canada, a leading provider of books and online resources for the educational market in Canada, is now majority-owned by OMERS. Jackie Reses, Partner at Apax Partners, said: “We look forward to working in close partnership with the company’s management team, led by Ron Dunn and Dave Shaffer, as they build upon the already strong franchises represented by the Thomson Learning properties.” Christian Stahl, Partner at Apax Partners, continued: “The Thomson Learning properties historically have delivered stable and predictable growth, and they are underpinned by healthy market dynamics. We will work with management to capture the enormous potential that we believe exists as the businesses continue to expand internationally, and play an important role in enabling the evolution to digital content distribution in post-secondary education.” Paul Renaud, President & CEO at OMERS Capital Partners, said: "We are pleased to have completed the acquisition of the Thomson Learning properties along with Apax Partners, and look forward to working closely with Greg Pilon, the President & CEO of Thomson Nelson Canada, and his team, to continue the growth and financial success of the business." Evercore Partners Incorporated and Atlas Advisors served as financial advisors to Apax Partners and OMERS Capital Partners on the acquisition. Acquisition finance was provided by JPMorgan, The Royal Bank of Scotland, Citigroup, UBS and The Royal Bank of Canada. About Apax Partners Apax Partners ( www.apax.com) is one of the world’s leading private equity investment groups. It operates across the United States, Europe and Asia and has more than 30 years of investing experience. Funds under the advice of Apax Partners total in excess of $20 billion around the world. These Funds provide long-term equity financing to build and strengthen world-class companies. Apax Partners Funds invest in companies across its global sectors of Tech & Telecom, Retail & Consumer, Media, Healthcare and Financial & Business Services. Over the past ten years, Apax has been one of the most active investors in media and communications with over $5.8 billion of equity invested. Recent investments include TDC ($17.6 billion), Thomson Learning ($7.8 billion), Intelsat ($5.0 billion), CME ($3.0 billion), Yell Group ($3.0 billion), Trader Media Group ($2.7 billion), VNU World Directories ($2.6 billion) and Hit Entertainment ($1.0 billion). About OMERS Capital Partners OMERS Capital Partners manages the private equity investment for OMERS Administration Corporation. OMERS has a 10% allocation to the private equity asset class and currently has private equity investments in excess of Cdn $2.5 billion. OMERS is a multi-employer pension plan established in 1962 and is one of the largest and most sophisticated asset management entities in Canada. As one of Canada's largest pension plans, OMERS provides pension services to about 372,000 active and retired members and almost 900 employers. With over Cdn $48 billion in assets and a global mandate, OMERS invests actively and directly in a wide range of securities including public equity, real estate, infrastructure and private equity. About Thomson Learning Through such well-known brands and businesses as Wadsworth, Delmar Learning, Gale, Heinle, Brooks/Cole and South-Western, Thomson Learning delivers learning solutions for colleges, universities, professors, students, reference centers, government agencies, corporations and professionals around the world. These solutions are delivered through specialized content, applications and services that foster academic excellence and professional development, as well as provide measurable learning outcomes to its customers. Thomson Learning’s mission is to shape the future of global learning by delivering consistently better learning solutions for learners, instructors and institutions. You can learn more about Thomson Learning at: www.thomsonlearning.com. Media Contacts For Apax Partners |
