Kendall Hunt Completes Acquisition of RCL Benziger from The Wicks Group
NEW YORK – August 17, 2016 – Kendall Hunt Publishing Company, publisher of science, math, and gifted materials, has completed its acquisition of Cincinnati-based RCL Benziger, publisher of Catholic educational materials on Tuesday, August 16 from The Wicks Group (“Wicks”). Terms of the transaction were not disclosed.
RCL Benziger, founded in 1792, is one of the oldest publishers of Catholic educational materials and faith formation resources in the United States, and is a leading provider of religious education programs for Catholic Schools and parishes. RCL Benziger was a division of New Mountain Learning, a Wicks Group portfolio company providing blended learning education solutions to the K-12 and higher education markets.
Family owned and operated, Kendall Hunt was previously part of William C. Brown that published religious education materials for the Catholic faith, starting with The Archdiocese of Chicago in the early 1970s, before expanding throughout the United States in the 1980s under the name Brown ROA.
RCL will continue to operate under the RCL Benziger name and maintain its corporate office in Cincinnati. This acquisition will allow Kendall Hunt to more effectively and efficiently serve the needs of educators in both the private and public arenas.
“We have had a very strong relationship with the Wicks team, and they have been a valuable partner to us throughout their ownership,”said Peter M. Esposito, president of RCL Benziger. “We’ve built a better, more profitable business together, and we are excited to be teaming with Kendall Hunt to continue our expansion, both organically and through acquisitions.”
Daniel Kortick, Managing Partner at Wicks, said, “Over the last few years, Peter and his team have established RCLB as a true market leader in its categories. We were delighted to have had the chance to work closely with them and are excited to see what they can accomplish with their new partners at Kendall Hunt. We wish them both continued success.”
“Passion is key in K-12 education. At Kendall Hunt, our customers are passionate about their curriculum and looking for new, innovative ways to teach today’s youth,” said Kendall Hunt Publishing President and Chief Operating Officer Chad Chandlee. “This acquisition will allow both Kendall Hunt and RCL Benziger to explore intelligent ways to integrate new products and services into our curricula. Both companies have a rich, long-standing, positive reputation in the marketplace and the two coming together will better serve today’s customers.”
East Wind acted as exclusive financial advisor to RCL Benziger in this transaction and Golenbock Eiseman Assor Bell & Peskoe, LLP served as legal counsel to Wicks on the transaction.
About the Wicks Group of Companies
The Wicks Group of Companies is a private equity firm based in New York City that invests in lower-middle-market companies operating in selected segments of the information, education and media industries principally in the United States and Canada. Since its founding in 1989, Wicks has invested over $1 billion of capital in 30 platform companies and approximately 100 add-on acquisitions. The firm has applied a consistent investment strategy since its founding, partnering with high-quality, experienced management teams to build businesses organically and through acquisitions. For more information, visit www.wicksgroup.com
About RCL Benziger Publishing
RCL Benziger is one of the oldest publishers of Catholic educational materials and faith formation resources in the United States. Known for its digital product offerings and bilingual resources, RCL Benziger is a major provider of religious education programs for Catholic schools and parishes. The RCL Benziger family of products supports catechists, educators, students, families, and individuals. Visit www.RCLBenziger.com to learn more.