The Teaching Company Undergoes Another Dividend Recap
February 29, 2012
Brentwood Associates has completed a dividend recapitalization of The Teaching Company, the second in the last twelve months. The latest recapitalization was financed through a $170 million credit facility with Ares Capital providing incremental financing in the form of a delayed draw term loan. The Teaching Company provides university-level courses targeted at life-long learners under The Great Courses brand. Brentwood acquired the company in 2006 and has realized a return of capital in excess of its original investment without decreasing its ownership stake.