Nov 5, 2014
Blueprint for new IITs and NITs likely to roll out today
read more...
AUSIB promotes High Profile Higher Education Events, Business Events, Trade and Investments between The United States and India
Oct 28, 2014
India Projected to Become Third-biggest Aviation Market by 2031
read more...
AUSIB promotes High Profile Higher Education Events, Business Events, Trade and Investments between The United States and India
Oct 8, 2014
IMF issues warning on slower economic growth in 2014 and 2015
read more...
AUSIB promotes High Profile Higher Education Events, Business Events, Trade and Investments between The United States and India
Oct 8, 2014
USINPAC releases #US-#India ‘Business Barometer’
read more...
AUSIB promotes High Profile Higher Education Events, Business Events, Trade and Investments between The United States and India
Oct 8, 2014
More than half of U.S. unlikely to do business in India: study
read more...
AUSIB promotes High Profile Higher Education Events, Business Events, Trade and Investments between The United States and India
Oct 8, 2014
More than half of US unlikely to do business in India: Reports
read more...
AUSIB promotes High Profile Higher Education Events, Business Events, Trade and Investments between The United States and India
Oct 8, 2014
US lawmakers forge ahead to set US-India relations on new course
read more...
AUSIB promotes High Profile Higher Education Events, Business Events, Trade and Investments between The United States and India
Oct 6, 2014
New MoU to be signed between India and the USA gets nod from the Indian Cabinet
read more...
AUSIB promotes High Profile Higher Education Events, Business Events, Trade and Investments between The United States and India
Sep 30, 2014
India set to become a founding partner in the Thirty Meter Telescope Project in Pacific Ocean
read more...
AUSIB promotes High Profile Higher Education Events, Business Events, Trade and Investments between The United States and India
Sep 30, 2014
Global Initiative of Academic Networks approved by the Indian HRD Ministry
read more...
AUSIB promotes High Profile Higher Education Events, Business Events, Trade and Investments between The United States and India
Sep 23, 2014
Narendra Modi will build new IIT in Goa aided by US institutions
read more...
AUSIB promotes High Profile Higher Education Events, Business Events, Trade and Investments between The United States and India
Aug 28, 2014
Turning Point in Bilateral Relations: US Medical Delegation to India arrives
read more...
AUSIB promotes High Profile Higher Education Events, Business Events, Trade and Investments between The United States and India
Aug 26, 2014
Indian American author Nina McConigley wins PEN Open Book Award
read more...
AUSIB promotes High Profile Higher Education Events, Business Events, Trade and Investments between The United States and India
Aug 26, 2014
Indian-American educator Pradeep Khosla to help India with hospital management
read more...
AUSIB promotes High Profile Higher Education Events, Business Events, Trade and Investments between The United States and India
Aug 26, 2014
India-US natural partners: US diplomat
read more...
AUSIB promotes High Profile Higher Education Events, Business Events, Trade and Investments between The United States and India
View All

The Princeton Review Announces Sale of its Test Preparation Business to Charlesbank Capital Partners Affiliate

Source : PR NEWSWIRE
March 28, 2012

 

FRAMINGHAM, Mass., March 27, 2012 /PRNewswire/ -- The Princeton Review, Inc. (Nasdaq: REVU), a leading provider of test preparation, educational support services and online career education services, announced today that it has entered into a definitive agreement to sell the assets of its Higher Education Readiness Division, or test preparation business, to an affiliate of Boston-based private equity firm Charlesbank Capital Partners.  The purchase price is $33 million in cash, subject to working capital adjustments.

 

The sale of the Higher Education Readiness Division occurs as the company increasingly focuses on the growth and market expansion of its Penn Foster Division, a global leader in online education that provides career-focused degree and vocational programs in the fields of allied health, business, technology, education, and select other trades in the US, Canada and over 150 other countries around the world.

 

"We have been fortunate to be the steward of two world class brands in The Princeton Review and Penn Foster," said John M. Connolly, the company's interim CEO.  "And, although the mission of both brands is fundamentally similar – to promote and enable student achievement – the needs and growth strategies of each brand are unique.  Consequently, the sale of The Princeton Review brand will enable the buyer to continue fostering the brand's growth and prosperity while affording us the ability to increase our focus and energy on Penn Foster's success.  We're very excited about the opportunities that this sale presents for both brands."

 

Under the terms of the purchase agreement, the company will sell substantially all the assets of the Higher Education Readiness Division, including all rights in the name The Princeton Review, to Charlesbank affiliate TPR Education, LLC, which will assume certain designated obligations of the business outstanding as of the closing of the transaction.  The sale closing, which is subject to conditions including the receipt of certain third party consents, is expected to occur within 30 to 45 days.  In connection with the sale, the company, which will serve as a holding company for the Penn Foster business, will cease to be known as The Princeton Review and will formally adopt a new, to be determined, corporate name.  

 

 


  • AUSIB joins Nagpur First as Supporting Partners for Annual Global Nagpur Summit 2015
    read more...
  • Events and Delegations between India and The United States
  • Edwin Burkett
  • James mancuso
  • Gerald V quinnan
  • Mark evans
  • Rahul jindal
  • Rahul jindal
^ Back to Top