CHARLOTTE, Jan. 4, 2016 — King & Spalding represented Pamlico Capital, a private equity firm with over $2 billion under management, in connection with the recapitalization of MetaMetrics, Inc., a company focused on improving education for learners of all ages and abilities. The recapitalization was led by Pamlico, and MetaMetrics’ co-founders Jack Stenner, Ph.D., and Malbert Smith, Ph.D., will continue to maintain significant ownership in the company. Pamlico has committed additional equity capital to support future acquisitions and organic growth initiatives. Further transaction details have not been disclosed.
Pamlico is a Charlotte, North Carolina-based private equity firm that seeks control-oriented buyout and growth equity investments in middle market businesses in three core industries: business and technology services, communications and healthcare.
MetaMetrics is headquartered in Durham, North Carolina. The company develops scientific measures of academic achievement and complementary technologies that link assessment results with real-world instruction. MetaMetrics’ flagship product, the Lexile® Framework for Reading, provides a common, developmental scale and measure to match readers with resources targeted to their ability level.
The King & Spalding team representing Pamlico in the transaction was led by corporate partner Rick Bange and corporate associates Mike Miller, Courtney Byrne, Stacy Grant and Rebecca Cushing. Additional assistance on finance matters was provided by Ellen Snare, Michael Urschel, Bryan Reese, Robyn Cho and Hank Dumanian; on tax matters by Wayne Pressgrove, John Sweet, Robert Beard and Greg Lucas; on labor matters by Cheryl Sabnis, Scott Mario and Bailey Langner; on employee benefits matters by Sam Choy and Ryan Gorman; on intellectual property matters by Scott Petty and Kent Jordan; and on government contract matters by Greg Smith.
More information about the transaction can be found here.
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