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Atairos Acquires Ownership Stake in ProQuest
Wednesday 22 May 2019

22 May 2019 - Pennsylvania, US-based investment management firm Atairos has acquired an ownership position in Michigan, US-based educational technology company ProQuest, the company said.
Terms of the transaction were not disclosed.
ProQuest said it will use the proceeds from the transaction to repurchase most of the shares owned by entities affiliated with the Merchant Banking Division of Goldman Sachs, which will retain a minority interest in the company. Cambridge Information Group (CIG) will maintain its majority ownership of ProQuest.
CIG has been the majority owner of ProQuest since 2007, overseeing a period of growth through new product innovation and strategic acquisitions that have helped ProQuest customers respond to changing environments.
ProQuest curates six centuries of content with the world's largest collection of journals, ebooks, primary sources, dissertations, news, and video and builds powerful workflow solutions to help libraries acquire and grow collections that inspire extraordinary outcomes.
ProQuest products and services are used in academic, K-12, public, corporate and government libraries in 150 countries.
Atairos is an independent, private company focussed on supporting growth-oriented businesses across a wide range of industries. Atairos provides a unique combination of active strategic partnership and patient long-term capital to high-potential companies and their management teams.
Goldman Sachs Merchant Banking Division is a global investment banking, securities and investment management firm.
Evercore served as the financial advisor to ProQuest.
Details
Date Published: 22/05/2019
Target: ProQuest
Country: USA
Sector: Media
Type: Corporate acquisition
Financing:
Status: Closed
Vendor:
Buyer: Atairos
Comment:
Terms of the deal were not disclosed

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