Houghton Mifflin Harcourt Co.

Houghton Mifflin Harcourt Co.

Houghton Mifflin Harcourt Co.

Overview
Date Founded

2009

Headquarters

125 HIGH STREET, BOSTON, MA, 02110, USA

Type of Company

Public

Employees (Worldwide)

3,400

Industries

Schools & Student Services
Consumer Services

Company Description

Houghton Mifflin Harcourt Co. engages in the provision of pre-K-12 education solutions, delivering content, technology, services, and media. It operates through the Education and HMH Books & Media. The Education segment provides educational products, technology platforms and services. The segment primarily develops, markets and sells consumer books in print and digital formats and licenses book rights to other publishers and electronic businesses. The company was founded in 1832 and is headquartered in Boston, MA.

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Executives & Employees

President, Chief Executive Officer & Director, Hmh

Chief Financial Officer & Executive Vice President

Executive Vice President, General Counsel, Secretary

Executive Vice President & Chief Marketing Officer

Senior Vice President, Chief Marketing Officer

Chief Technology Officer

Chief Information Officer

Chief People Officer & Senior Vice President

Chief Revenue Officer

General Manager, Heinemann

Board of Directors

Former Senior Managing Director, Advisory Group at The Blackstone Group, Inc.

Executive Vice President at Verizon Wireless, Inc.

Co-Chief Executive Officer at NewsGuard Technologies, Inc.

President, Chief Executive Officer & Director, Hmh at Houghton Mifflin Harcourt Co.

Co-Founder at Novak Biddle Venture Partners

Vice President-Digital Platforms at International Business Machines Corporation

Chief Executive Officer at New Leaders, Inc.

Partner at Anchorage Capital Group LLC

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Houghton Mifflin Harcourt Co.
Owners & Shareholders
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Anchorage Capital Group manages private investment funds across the credit, special situations and illiquid investment markets of North America and Europe using an active long and short basis, with particular focus on defaulted and leveraged issuers.

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Goldstein & McClintock LLLP is a cutting-edge boutique law firm representing a broad array of sophisticated clients in a wide variety of matters across the nation. In addition to handling all aspects of corporate restructuring matters through its pre-eminent corporate restructuring, bankruptcy, and creditors’ rights practice, G&M attorneys regularly assist clients with a wide variety of transactional and commercial litigation matters. G&M’s partners – all of whom have worked on numerous complex matters, including at some of the top corporate law firms in the U.S. – are well known in both the regional and national bankruptcy bar, and have represented a host of constituencies in some of the country’s most significant cases. Whatever the matter, G&M is unique in being able to offer clients affordable “white-shoe” advice combined with the accessibility and individual attention of a boutique law practice. Although G&M's attorneys are well versed in a broad spectrum of matters – from corporate, finance, and real estate transactions to commercial litigation cases – G&M routinely receives accolades for its extensive restructuring and bankruptcy practice. G&M's restructuring professionals have extensive experience in workout negotiations, reorganizations, bankruptcy litigation, and debtor-creditor relations. Whether it is an out-of-court restructuring, workout advice, pre-bankruptcy counseling and planning, guidance through the chapter 11 process, or building leverage to maximize value for creditors, G&M's ability to provide top-tier counsel at affordable prices is without parallel.

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Freshford Capital's equity strategy focuses on a broad range of equity investment styles, including growth, core, and value. The firm employs a fundamental value investment strategy in which they seek to invest in asset-oriented securities they believe are undervalued by the market. Freshford Capital also engages in a capital growth investment strategy in which they seek to invest in securities of a company whose earnings they expect to grow at an above-average rate as compared to the company's specific industry or the overall market. The firm utilizes a variety of financial instruments such as derivatives, options, interest rate swaps, futures and forward contracts for risk management purposes.To maintain flexibility and profit, they engage in short selling strategies as a form of hedging to offset potential declines in long positions in similar securities. In addition, Freshford Capital pursues relative value strategies by taking long positions in securities believed to be undervalued and short positions in securities believed to be overvalued. Their investment program may employ the use of leverage.

Recent Transactions
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Houghton Mifflin Harcourt Co. purchases PV Waggle LLC

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Alpine Investors purchases Houghton Mifflin Harcourt Co. /Riverside Test Business from Houghton Mifflin Harcourt Co.

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Houghton Mifflin Harcourt Publishing Company, Houghton Mifflin Harcourt Co. purchase Scholastic Corp. /EdTech Business from Scholastic Corp.

Transaction Advisors
Lender

Advised onHoughton Mifflin Harcourt Publishing Company, Houghton Mifflin Harcourt Co. purchase Scholastic Corp. /EdTech Business from Scholastic Corp.

Underwriter

Advised onHoughton Mifflin Harcourt Co. issued USD Common Stock

Escrow Agent

Advised onHoughton Mifflin Harcourt Co. issued USD Common Stock

Legal Advisor

Advised onHoughton Mifflin Harcourt Publishing Company, Houghton Mifflin Harcourt Co. purchase Scholastic Corp. /EdTech Business from Scholastic Corp.

Counsel

Advised onHoughton Mifflin Harcourt Publishing Company, Houghton Mifflin Harcourt Co. purchase Scholastic Corp. /EdTech Business from Scholastic Corp.

Legal Advisor

Advised onHoughton Mifflin Harcourt Co. issued USD Common Stock

Advisors & Consultants
Legal Advisor

Partner at Paul, Weiss, Rifkind, Wharton & Garrison LLP

Legal Advisor

Partner at Paul, Weiss, Rifkind, Wharton & Garrison LLP

Legal Advisor

Partner at Paul, Weiss, Rifkind, Wharton & Garrison LLP

Clients

Netflix, Inc. is a streaming entertainment service company, which provides subscription service streaming movies and television episodes over the Internet and sending DVDs by mail. It operates through the following segments: Domestic Streaming, International Streaming and Domestic DVD. The Domestic Streaming segment derives revenues from monthly membership fees for services consisting solely of streaming content to its members in the United States. The International Streaming segment includes fees from members outside the United States. The Domestic DVD segment covers revenues from services consisting solely of DVD-by-mail. The company was founded by Marc Randolph and Wilmot Reed Hastings Jr., on August 29, 1997 and is headquartered in Los Gatos, CA.

Ollie's Bargain Outlet Holdings, Inc. is a holding company, which engages in the retail of closeouts, excess inventory, and salvage merchandise. It offers overstocks, package changes, manufacturer refurbished goods, and irregulars. The company's products include housewares, food, books and stationery, bed and bath, floor coverings, electronics and toys. Ollie's Bargain Outlet Holdings was founded by Mark Butler, Mort Bernstein, Oliver Rosenberg and Harry Coverman on July 29, 1982 and is headquartered in Harrisburg, PA.

Global Eagle Entertainment, Inc. engages in the provision of content, connectivity and digital media solutions for airlines. It operates through the Media and Content, and Connectivity business segments. The Media and Content segment consists of licensing fees paid to acquire content rights for the airline industry. The Connectivity segment offers Wi-Fi Internet connectivity through Ku-band satellite transmissions. The company was founded by Harry Evans Sloan and Jeffrey F. Sagansky on February 2, 2011 and is headquartered in Los Angeles, CA.

Key Stats and Financials As of 2019
Market Capitalization
$243M
Total Enterprise Value
$1.28B
Earnings Per Share
$-1.72
Revenue
$1.39B
Net Profit
$-214M
EBITDA
$145M
EBITDAMargin
10.42%
Total Debt
$801M
Total Equity
$566M
Enterprise Value Sales
0.92x
Enterprise Value EBITDAOperating
7.84x
TEVNet Income
-5.99x
Debt TEV
0.63x
Three Year Compounded Annual Growth Rate Of Revenue
0.43%
Five Year Compounded Annual Growth Rate Of Revenue
0.27%
Non-Profit Donations & Grants
$10K - $15K
2013
$2,500 - $4,999
2013
Investments
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Writable, Inc. develops and provides writing practices for teachers. The offers a three-part feedback engine (peer-, self-, and teacher-review) and a set of common skill-focused writing assignments that save teachers time on preparation and feedback, and simultaneously scaffold and motivate students. The company was founded by Andrew Goldman and Heidi Perry in 2016 and is headquartered in Pacific Palisades, CA.

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Tangible Play, Inc. provides software services. It offers gaming accessories for the iPad users. The firm's games include numbers, masterpiece, coding awbie, monster, and pizza co., incorporating unique characters, such as awbie, mo the monster, and the pizza co. gang. The company was founded in February 2013 by Pramod Sharma and Jerome Scholler and is headquartered in Palo Alto, CA.

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SchoolChapters, Inc. was started by entrepreneurs focused on delivering innovative technology solutions for educators. Educators are the key to building a quality learning experience for children. When they deploy a new product or service, they do so with the valuable input of educators to ensure that its solutions work for them. Its inventive, easy-to-use solutions, services and resources facilitate the processes that educators already go through, and allow them to tell their stories.SchoolChapters is currently used by programs across the country, including Head Start, YWCA, YMCA, Department of Defense, public school, campus child care, and small private child care programs. Regardless of the size of customers program, SchoolChapters provides a robust content management platform with state-of-the-art security features (SSL) and a fluid, user-friendly interface. They pride themselves in providing an affordable, easy-to-use, time-saving solution.

Investors
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ARBY Partners invests in both private & public companies located in North America and Europe. The firm targets companies operating in the fields of broadband, business services, communications, cybersecurity, healthcare IT, information services, insurance services, internet, logistics, media, and software. It acquires controlling stakes and provides financing for buyouts, recapitalizations, acquisition roll-ups & consolidations, expansion capital and later stage capital requirements with an investment size ranging from $50 to $200 million.

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Apollo Capital Management's investment objective is to generate both capital appreciation and current income through mezzanine, preferred equity, warrants, First lien & Second Lien debt, structured products, unstructured debt, subordinated debt and equity investments while adhering to Apollo Global Management's industry-specialized, value-oriented investment strategy.

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BFM utilizes fixed-income strategies that are actively managed, model or index based. Actively managed fixed-income mandates generally employ an active investment style that emphasizes rotation among different types of debt on a relative value basis, specific security selection, quantitative analysis of each security and the portfolio as a whole and intensive credit analysis and review. They utilize a risk-controlled, systematic process for portfolio construction and alpha generation. Alpha sources may include security selection, duration and yield curve positioning, industry rotation, asset allocation, and currency positioning. BFM's equity platform includes a broad range of products that vary according to investment style (active, scientific and passive management), market-cap (small-, mid-, small/mid-, large- and all-cap), and geography (global, international and regional). The product range may also include sector funds, long-only and long-short portfolios, as well as products that combine different strategies to create balanced and asset allocation portfolios. For cash management portfolios, the investment process emphasizes safety and liquidity over yield. Their alternative mandates focus on sourcing and managing high-alpha investments with lower correlation to public markets and developing a holistic approach to address client needs in alternatives investing.

Suppliers
NIIT Ltd. Other Business & Consulting Services | Gurgaon, India

NIIT Limited is an Indian Multinational company that offers learning management and training delivery solutions to corporations, institutions and individuals. It has three main lines of business worldwide: Corporate Learning Group (CLG), Skills and Careers Group (SNC), and School Learning Group (SLG). In 2006, the IT services business of NIIT was demerged into a separately listed company NIIT Technologies. NIIT Limited now focuses on Corporate Training, Vocational Training for Services Sectors and Education and Training in Schools. NIIT Limited owns 23.98% of NIIT Technologies.

FedEx Corporation Printing | Memphis, TN

FedEx Corporation provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $43 billion, the company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedEx brand. Consistently ranked among the world's most admired and trusted employers, FedEx inspires its more than 300,000 team members to remain "absolutely, positively" focused on safety, the highest ethical and professional standards and the needs of their customers and communities.

United Parcel Service, Inc. Shipping & Delivery | Atlanta, GA

United Parcel Service, Inc. operates as a logistics and package delivery company providing supply chain management services. Its logistics services include transportation, distribution, contract logistics, ground freight, ocean freight, air freight, customs brokerage, insurance, and financing. The company operates through the following segments: U.S. Domestic Package, International Package, and Supply Chain and Freight. The U.S. Domestic Package segment offers a full spectrum of U.S. domestic guaranteed ground and air package transportation services. The International Package segment includes small package operations in Europe, Asia-Pacific, Canada and Latin America, Indian sub-continent, and the Middle East and Africa. The Supply Chain and Freight segment offers transportation, distribution, and international trade and brokerage services. The company was founded by James E. Casey and Claude Ryan on August 28, 1907 and is headquartered in Atlanta, GA.

Competitors
Scholastic Corp. Publishing - New York, NY

Scholastic Corp. engages in the publication and distribution of children's books, magazines, and teaching materials. It operates through the following segments: Children's Book Publishing and Distribution; Education; and International. The Children's Book Publishing and Distribution segment includes the publication and distribution of children's books, e-books, media, and interactive products. The Education segment publishes and distributes children's books, other print and on-line reference, non-fiction and fiction focused products, classroom magazines and classroom materials to schools and libraries. The International segment offers products and services outside the United States by the firm's international operations, export, and foreign rights businesses. The company was founded by Maurice R. Robinson in 1920 and is headquartered in New York, NY.

John Wiley & Sons, Inc. Internet Software & Services - Hoboken, New Jersey

John Wiley & Sons, Inc. engages in the provision of research and learning materials. It operates through the following segments: Research, Publishing, and Solutions. The Research segment provides scientific, technical, medical, and scholarly journals, as well as related content and services, to academic, corporate, and government libraries, learned societies, and individual researchers and other professionals. The Publishing segment offers scientific, professional, and education books and related content in print and digital formats, as well as test preparation services and course workflow tools, to libraries, corporations, students, professionals, and researchers. The Solutions segment includes online program management services for higher education institutions and learning, development, and assessment services for businesses and professionals. The company was founded by Charles Wiley in 1807 and is headquartered in Hoboken, NJ.

Pearson Plc Internet Software & Services - London, United Kingdom

Pearson Plc is an education company, which engages in the business of education, business information, and consumer publishing markets. It operates through the following segments: North America, Core, and Growth. The North America segment includes businesses in the Unites States and Canada. The Core segment referst to businesses in mature markets including the United Kingdom, Australia, and Italy. The Growth segment covers the businesses in emerging markets including Brazil, China, India, and South Africa. The company was founded by Pearson Samuel in 1844 and is headquartered in London, the United Kingdom.

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