TVG-Edmentum Holdings, LLC
Edmentum is a United States education-technology company that develops digital curriculum, online assessment, and instructional software for kindergarten-through-grade-12 and adult learners. Its offerings include standards-aligned courseware, virtual and credit-recovery programs, formative assessment, and intervention tools used by public and private schools across all 50 states and internationally. Headquartered in Bloomington, Minnesota, and tracing its lineage to Archipelago Learning and PLATO Learning, the company operates as a remote-first organization. The Vistria Group holds a majority ownership position acquired in December 2020, with BlackRock-managed funds retaining a stake.
Company profile compiled from public sources (company filings, rating-agency reports, and press releases) — distinct from the SEC Schedule-of-Investments pricing data below.
Lenders
TVG-Edmentum Holdings, LLC is held by 2 BDC lenders in our parsed SEC filings: NMFC, TCPC.
Cross-lender loan pricing
Each row is one debt tranche at the BDC’s most recent filing that holds this borrower, widest spread first. Mark is the position’s fair value as a percent of par (100 = par). Spread is shown in basis points over the benchmark in the Rate column, normalized from each filing’s as-reported units — rows quoting different benchmarks are still not directly comparable. Compare like-for-like: a second-lien tranche, a different vintage, or an older filing should price wider even when the credit view is identical — check the Type and Filing columns before reading a gap as disagreement. Source: SEC EDGAR (public).
| BDC | Type | Rate | Cash spread (bps) | Mark (% of par) | Fair Value | Maturity | Filing |
|---|---|---|---|---|---|---|---|
| NMFC | Debt | — | 10.4 | $5M | 2026-08-03 | ||
| NMFC | Debt | — | — | — | 2026-08-03 | ||
| TCPC | Debt | FIXED | — | — | $2M | 2026-08-06 | |
| TCPC | Debt | FIXED | — | — | $0K | 2026-08-06 | |
| TCPC | Debt | FIXED | — | — | $0K | 2026-08-06 |
Marks reflect each BDC’s own fair-value estimates as reported to the SEC, not traded prices. Private-credit loans are predominantly Level 3 under ASC 820 — valued from unobservable inputs and determined in good faith by each BDC’s board, so figures are estimates as of the filing date and are not directly comparable across managers. Informational only; not investment advice or a valuation.
Ownership & deal activity
Ownership and acquisition events compiled from public sources and audited against the linked source. Each event links to its source; “(reported)” marks a lower-confidence item. Verify anything material against the original source.
- recapitalizationEdmentum Balance Sheet Recapitalization — Debt Exchanged for EquityWith unanimous support of first lien lenders, second lien lenders, and equity sponsors, Edmentum recapitalized its balance sheet to reduce hundreds of millions in debt; Prospect Capital exchanged its $50M second lien term loan for PIK notes and a 37.1% equity stake in Edmentum Ultimate Holdings, LLC; New Mountain Finance and other lenders also received equity.
- acquisitionThoma Bravo Acquires Archipelago Learning; Rebrands Combined Entity as Edmentum (reported)Thoma Bravo acquired Archipelago Learning for approximately $291 million and rebranded the combined business with Plato Learning as Edmentum.
- lboThoma Bravo Takes Plato Learning Private (reported)Thoma Bravo acquired Plato Learning (predecessor to Edmentum) in a take-private transaction for approximately $143 million, ending nearly two decades as a public company.
Headlines mentioning TVG-Edmentum Holdings, LLC
Reading this table
When two business development companies lend to the same borrower, comparing how each marks the loan is a starting question, not a verdict. In plain English: a wider spread (e.g. S+575 vs S+525) or a lower mark (e.g. 96 vs 100 cents on the dollar) can mean that lender is pricing in more risk — but marks can also differ for reasons other than a credit view: a different tranche (second lien should price wider than first lien on the same company), a different vintage or entry point, an older filing date, or each manager’s own fair-value methodology. Compare like-for-like — check the Type and Filing columns before reading a gap as disagreement. Each row is one debt position at one BDC’s most recent filing. Source: SEC EDGAR Schedule of Investments (public).
Want to read these numbers like an analyst? Free Oxford Ledge lessons: reading a BDC’s Schedule of Investments, key credit metrics, and the Five Cs of credit analysis.