Eureka Growth Capital has finished a dividend recapitalization of West Academic Publishing, a provider of learning materials for the law school market. West Academic was created in February 2013 by Eureka Growth to acquire the Thomson Reuters’ law school publishing business.
Today, West Academic Publishing provides legal textbooks, casebooks, study guides and other course-related materials in both print and digital media formats for law school faculty and students in the United States. West Academic Publishing provides its products under the West Academic, Foundation Press and Gilbert imprints. In the three years since being acquired by Eureka Growth, West Academic has grown from 50 to 82 employees largely through an expansion of digital products and other advanced learning materials. The company is headquartered in St. Paul (www.westacademic.com).
“Through this dividend recapitalization, we are pleased to provide a strong return to our investors and management partners as a byproduct of the effort to build on the company’s leadership position in value and innovation in the legal education market,” said Chris Hanssens, Managing Partner of Eureka.
Eureka Growth Capital makes control and non-control investments in companies with $10 million to $75 million in revenue. Initial equity investments range from $4 million to $10 million but larger investments can be made with co-investment from the firm’s limited partners. Eureka Growth prefers investment opportunities in the Mid-Atlantic and Eastern US. The firm was founded in 1999 and is based in Philadelphia (www.eurekagrowth.com).
“Eureka’s commitment to the long-term strategy and success of the business has helped us secure our market leadership position with the launch of innovative products such as CasebookPlus,” said Chris Parton, CEO of West Academic. “We are thrilled with our early success as an independent business and are very excited to continue to work with Eureka to expand our product and service leadership in the law school higher education market.”
© 2016 PEPD • Private Equity’s Leading News Magazine • 3-2-16
