Deal Details

Parchment Is Acquired by Instructure

Technology & Services

Parchment, a portfolio company of Brentwood, acquisition by Instructure

Summary

Parchment, a portfolio company of Brentwood Associates (“Brentwood”), has entered into a definitive agreement to be acquired by Instructure Holdings, Inc. (“Instructure”) (NYSE: INST) for approximately $835 million. The transaction is subject to regulatory approval and customary closing conditions and is expected to close in the first quarter of 2024.

Baird served as financial advisor to Parchment on this transaction.

About

Parchment believes credentials matter in the lifelong journey of a learner. Offering the most comprehensive academic credential management platform and network, Parchment helps learners, academic institutions and employers request, verify and share transcripts, diplomas and other credentials in simple and secure ways. The Parchment platform has helped millions of learners, over 13,000 districts, university registrar offices, institutions in five additional countries outside of the US through Digitary by Parchment, state education agencies and receivers (including university admissions offices, background check companies, employers, college application services, Online Program Managers and certification and licensing boards) exchange transcripts, diplomas, certificates, comprehensive learner records and other credentials globally. Parchment is headquartered in Scottsdale, Arizona.

Brentwood Associates is a private equity investment firm with a 30+ year history of investing in middle-market growth-oriented consumer and business services companies. Since 1984, Brentwood’s dedicated private equity team has invested in over 50 portfolio companies with an aggregate transaction value of over $6 billion. With significant experience in both investing and brand building, Brentwood is a value-added partner for entrepreneurs and senior management teams building world-class companies. Brentwood is headquartered in Los Angeles, California.

Instructure is an education technology company dedicated to elevating student success, amplifying the power of teaching, and inspiring everyone to learn together. Today the Instructure Learning Platform supports tens of millions of educators and learners around the world. Instructure is headquartered in Salt Lake City, Utah.

Technology & Services

Parchment, a portfolio company of Brentwood, acquisition by Instructure