Bain Capital Acquires PowerSchool in $5.6 Billion Privatization
Bain Capital has agreed to acquire education technology company PowerSchool Holdings, Inc. in a transaction valued at $5.6 billion. As part of the deal, PowerSchool stockholders will receive $22.80 per share in cash, representing a 37 percent premium over the company's unaffected share price of $16.64 as of May 7. The acquisition will allow PowerSchool to operate as a privately held firm, and it will no longer be publicly listed on the New York Stock Exchange.
Vista Equity Partners and Onex Partners, the current shareholders, will retain minority investments in the company post-acquisition. The transaction is anticipated to close in the second half of the year, pending regulatory approvals. The debt financing for the acquisition was provided by a group of private credit lenders, including Ares Management Corp., HPS Investment Partners, Blackstone Inc., Blue Owl Capital Inc., Sixth Street Partners, and Golub Capital.
