Natick education firm acquired
Cambium Learning, an educational firm founded by the former CEO of Houghton Mifflin Company, has been acquired by New York-based Veronis Suhler Stevenson, a private equity investor.
Natick-based Cambium was founded in 2002, and is the largest U.S.-based company focused exclusively on serving the needs of at-risk and special student populations. The firm provides intervention solutions designed for Pre-K-12 students. In 2006, revenues were in excess of $100 million.
Veronis Suhler Stevenson, which specializes in the media, communications, information, and education industries, will back the existing management team which is comprised of Nader Darehshori, co-founder and former chairman, as well as the former CEO of Boston-based Houghton Mifflin Co. Darehshori will be partnering with Veronis Suhler Stevenson, and remain on the board of directors.
Co-founder Dave Cappellucci will become CEO upon closing, assuming the role from Jonathan Newcomb, who joined the company in March of last year. George Logue will become executive vice president, and Dave Caron will remain in his role as CFO.
WBJ Web Partners
Most Recent
Most Recent
0 Comments