Aspen Publishing is a leading provider of educational content and digital learning solutions to law schools and undergraduate institutions in the U.S. and around the world.

Investment Thesis

Law school textbook publishing business was non-core to the strategic seller. Transom saw an opportunity to execute carve-out and create a standalone company. Additionally, Transom identified significant opportunities to improve product sell-through and overall digital platform. Aspen maintained a leading market position and was poised to benefit from positive law school enrollment trends.

• Carved out Aspen from parent and created standalone company
• Drove predictable, recurring revenue via extremely high professor and overall retention, coupled with 15% law school subscription CAGR
• Digital transition achieved robust gross margin expansion
• Transom helped accomplish dramatic EBITDA growth in just 25 months