KKR-Backed Cengage Eyes $500mln IPO in H1 2023

Cengage Group, backed by KKR and Apax Partners, is considering an IPO that could raise $500 million in the first half of the year. The company has selected Citigroup and Morgan Stanley as lead underwriters. Cengage is focusing on online course materials and has acquired Infosec, a cybersecurity skills company. The IPO could be delayed, but the company is working to refocus its business beyond textbooks and has launched a unified K-12 learning platform called Explore.