Investment Company Platinum Equity Buys McGraw Hill for $4.5 Billion
The investment firm that controls McGraw Hill, Apollo Global Management (NYSE: APO) has sold it to Platinum Equity for $4.5 billion, according to a public announcement made on June 15. The transaction is expected to be completed this summer, subject to regulatory approval.
In 2013, Apollo Global Management bought McGraw Hill Education for $2.5 billion. Since then, McGraw Hill, like most textbook publishers, morphed into a digital content and software company, mostly by purchasing six companies.