Winter Harbor LLC

Mastery Education (Peoples Education)

Provided Financing Leads to Rebranding Opportunity

 

Mastery Education (Peoples Education) is a publisher and marketer of educational materials available in printed and digital formats for the kindergarten through 12th grade school market.  It offers supplementary educational materials for test preparation, assessment, instruction and general readings across various content areas.  Their materials are available to schools through several medias such as print, audio, software and video.  Peoples Education now operates under the business entity, Mastery Education.

Our Role

Winter Harbor served as Financial Advisor and Chief Restructuring Officer to Peoples Education.  We:

  • Assessed the Company’s recent performance and projected financial results, presenting our findings to secured lender.

  • Projected and managed weekly cash flow for the Company while operating under a forbearance agreement and significant amount of past-due accounts payable owed to key vendors.

  • Created the information memorandum to seek new or additional financing and distributed to multiple lenders.

  • Negotiated modification to the forbearance agreement with the existing lender.

  • Assisted with the Company’s ultimately successful financing with a new lender.

Engagement Outcome

With our assistance, Peoples Education was able to refinance its debt with under a new banking relationship.  This lender assumed 100-percent of the Company's existing debt at a discount. As part of its restructuring plan, the Company underwent a complete rebranding.