Pluralsight, a Draper, Utah-based technology workforce development company, announced an agreement to recapitalize its business with a group of existing lenders led by funds managed by Blue Owl Capital Inc. and including funds managed by Ares Management Corp., Goldman Sachs Asset Management and by Oaktree Capital Management, L.P., among others.
Under the terms of the agreement, the investor group will own 100% of the company.
The recapitalization will strengthen Pluralsight’s balance sheet, reduce outstanding debt, and provide over $200m of capital to accelerate growth initiatives and support long-term strategic goals. The completion of the recapitalization and additional investment provides the resources needed to deliver for customers and execute the company’s updated customer centric strategy to accelerate growth.
Pluralsight provides a learning platform dedicated to accelerating the technology skills and capabilities of today’s tech workforce. Thousands of companies, government organizations, and individuals around the world use Pluralsight Skills to support critical technology skill development in areas that are crucial to innovation including artificial intelligence, cloud computing, cybersecurity, software development, and machine learning. Pluralsight Skills provides curated content developed by vetted technology experts, industry skill assessments, and hands on, immersive learning experiences designed to help individuals skill-up faster. The company has worldwide offices in India, Ireland, and Australia.
FinSMEs
29/08/2024