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McGraw-Hill Education
activeEducation / Publishing — Apollo Global Management / Platinum Equity
Deal Terms
Entry Year2013
Entry EV$2.5B
Entry Multiple8x
Leverage5x
Debt Amount$1.25B
Risk Metrics
LTV (est.)50%
Debt / EV0.50x
Notes
Apollo bought from McGraw-Hill Companies for $2.5B (2013). Flipped to Platinum Equity for $4.5B (2021) — Apollo nearly doubled its money. $1.25B debt at acquisition. Textbook publisher pivoting to digital. Attempted merger with Cengage blocked by DOJ antitrust concerns (2020). PE serially owns the textbooks American students use.