Technology and services

Advising the world’s largest academic credentialing platform on its next phase of growth

Macquarie Capital acted as lead financial adviser to Parchment, a Brentwood Associates portfolio company, on its sale to Instructure, a Thoma Bravo portfolio company, for $US835 million

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Sector	Technology and services
Sub-sector	Education
Location	United States

Opportunity

Parchment is the global leader in academic credentialing with a platform serving a two-sided network of credential issuers and receivers within and across K-12, higher education and workforce markets.

Through its comprehensive and integrated platform, Parchment helps learners, academic institutions and employers request, verify and receive transcripts, diplomas and other credentials.

Approach

During a highly competitive sale process, Macquarie Capital’s Software & Services franchise strategically positioned Parchment as a premium data network asset, vertically aligned to the education end market with immense opportunity to leverage its network for continued growth.

Macquarie Capital successfully positioned Parchment’s previous acquisition of Quottly into the sale process, driving significant investor interest and expanding the marketed total addressable market (TAM) to prospective buyers.

In February 2024, Instructure, a leading learning ecosystem and creator of Canvas, completed its acquisition of Parchment, representing the company’s largest acquisition to date.¹

Collaborating with Parchment on its next phase of growth adds to Macquarie Capital's extensive work across the Knowledge Services and Technology sectors. This transaction is representative of the ways in which flexible learning solutions are expanding and evolving to meet diverse education needs globally.”

Raghu Velamati
Senior Managing Director
Macquarie Capital

Outcome

The acquisition of Parchment will allow Instructure to expand its institutional relationships, acquire new customers and broaden its footprint to unlock new growth opportunities.

Through Parchment’s dynamic credentialing platform, Instructure will be able to serve learners throughout their lifelong education journeys by providing verifiable, comprehensive digital passports of academic achievement for learners.

165 million

cumulative credentials

13,000+

customers

1. As of 31 March 2024

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Macquarie Capital

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