GREENVILLE, WI., September 15, 2020 – School Specialty, Inc., a leading provider of educational products and services to the Pre-K- 12th grade market in the U.S. and Canada., today announced that substantially all its assets have been acquired by SSI Acquisition, LLC, an entity formed by TCW Asset Management Company, LLC, Cerberus Capital Management, and Lantern Capital Partners. Post-closing, the company will operate as School Specialty, LLC. In conjunction with the transaction, Ryan M. Bohr was named President and Chief Executive Officer having served as the Company’s Chief Operating Officer since 2017 and Chief Financial Officer from 2014 to 2017.
- Acquired by SSI Acquisition, LLC, an entity formed for the purpose of acquiring the business of School Specialty Inc.; entity to be renamed School Specialty, LLC post-close
- Transaction led by The TCW Group, Inc.; Cerberus Capital Management; and LanternCapital Partners
- Balance sheet restructuring results in substantial debt reduction and strong liquidity position supported by a new $115 million credit facility provided by PNC Bank
- Ryan M. Bohr named President & CEO having most recently served as the Company’s EVP & COO
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