® The firm's core target sectors are technology, industrials, and consumer. With a sector-focused approach, the firm seeks to partner with management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake's operational improvement approach, O.P.S. is an investment firm founded in 2006 operating integrated businesses across private equity, credit, and other related strategies. Explore the future of education at About ClearlakeĬlearlake Capital Group, L.P. Inspired by the global media company Discovery, Inc., Discovery Education partners with districts, states, and trusted organizations to empower teachers with leading edtech solutions that support the success of all learners. Discovery Education serves approximately 4.5 million educators and 45 million students worldwide, and its resources are accessed in nearly 100 countries and territories. Through its award-winning multimedia content, instructional supports, and innovative classroom tools, Discovery Education helps educators deliver equitable learning experiences engaging all students and supporting higher academic achievement on a global scale. Blackstone Credit provided committed debt financing for the transaction.ĭiscovery Education is the worldwide edtech leader whose state-of-the-art digital platform supports learning wherever it takes place. Morgan and Macquarie Capital acted as financial advisors and Sidley Austin LLP served as legal advisor to Clearlake. Jefferies LLC also acted as a financial advisor, with Kirkland & Ellis LLP serving as legal advisor on the transaction. SVB Securities acted as lead financial advisor to Discovery Education. The transaction is expected to close in the second quarter of 2022, pending customary regulatory approvals and closing conditions. 'We are grateful for the opportunity to work with the Discovery Education team to support students and educators around the globe, and we look forward to partnering with Clearlake during the next phase of growth.' 'We are very proud of Discovery Education's tremendous progress since its spin-off from Discovery Inc.,' said Jason Brein, Partner at Francisco Partners. ®value creation framework to help the Company achieve further success through both organic growth and strategic acquisitions.' We look forward to using our proprietary O.P.S.

'We are excited to partner with Scott, the Discovery Education leadership team, and Francisco Partners to execute on a platform strategy dedicated to supporting educators and improving student achievement. 'We have long admired Discovery Education as an innovative provider of high-quality digital curriculum to educators and students around the world,' said Behdad Eghbali, Co-Founder and Managing Partner, and James Pade, Partner and Managing Director, of Clearlake.

We believe Discovery Education has a bright future as part of the Clearlake family of companies.' In addition, this new collaboration will enhance our efforts to deepen platform distribution, earn more of educators' instructional time, and win customers. 'We look forward to Clearlake's investment accelerating Discovery Education's efforts to acquire like-minded companies that complement our portfolio. Francisco Partners has been a great partner in our pursuit of this vision, and I am grateful for their support,' said Scott Kinney, CEO of Discovery Education. 'Discovery Education seeks to empower educators and inspire students worldwide through digital content delivered by our award-winning platform. Discovery Education serves approximately 4.5 million educators and 45 million students worldwide, and its resources are accessed in approximately 100 countries and territories.

The Company's integrated learning platform empowers teachers by offering easy lesson creation, ready-to-use formative assessments, and personalized, data-driven recommendations from a library of educational resources. Discovery Education provides K-12 digital curriculum to educators and students around the world, driving student engagement across a variety of subjects via interactive content, video resources, and teaching tools that deliver real-world learning experiences.

Discovery education