The Vistria Group Announces Strategic Partnership with Leading Literacy Firm, Really Great Reading

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Feb 06, 2023, 07:00 ET

CHICAGO, Feb. 6, 2023 /PRNewswire/ -- The Vistria Group announced a strategic partnership with Really Great Reading ("RGR"), a national, leading provider of scientifically-aligned literacy curriculum for students in grades pre-K through high school.

RGR develops supplemental educational curriculum focused on foundational literacy. RGR serves more than 600,000 students and 40,000 teachers in all 50 states. Co-founded in 2005 by CEO Scott DeSimone and headquartered in Maryland, RGR offers structured literacy programs through a suite of instruction, assessment, practice and professional development products that help educators align their daily practices with evidence-based reading methods.

"Our core mission is to help students learn to read through proven strategies that empower teachers in the classroom," DeSimone said. "I'm excited to partner with The Vistria Group to reach new, underserved markets and to impact the lives of more children by helping them become proficient readers."

"Our partnership with RGR further represents The Vistria Group's founding thesis of identifying and supporting partners and programs that are making positive change in the world," said Philip Alphonse, Senior Partner and Co-Head of Knowledge & Learning at The Vistria Group. "RGR is a pioneer in this space with a robust digital curriculum that more school districts should be adopting. We're thrilled with the opportunity to partner with Scott and continue its mission."

A decline in literacy rates and a growing gap in reading proficiency, which was exacerbated by the COVID-19 pandemic, has led to an increased focus on literacy curriculum across the nation. Through this investment, The Vistria Group will work alongside DeSimone and the management team at RGR to expand their market presence into more states and school districts, with the goal to achieve better outcomes for students and greater opportunities for teachers.

"Our goal is to ensure the next generation of students is equipped for the future," said Yash Kandoi, Principal of Knowledge & Learning at The Vistria Group. "We look forward to working closely with the RGR team to build upon their impressive growth story as they continue to expand their product suite and improve reading proficiency levels in the country."

The Vistria Group's investment represents the 10^th deal officially closed in Vistria Fund IV. The Vistria Group has partnered with VSS Capital Partners ("VSS"), a private equity firm, and A-Street, a privately sponsored investment fund, in the transaction.

Macquarie Capital served as exclusive financial advisor to Really Great Reading and Proskauer Rose LLP served as legal advisor to Really Great Reading. Winston & Strawn LLP served as legal advisor to The Vistria Group.

About The Vistria Group

The Vistria Group is building a new kind of private investment firm that seeks to deliver both financial returns and societal impact. It invests in essential industries like healthcare, knowledge and learning and financial services that deliver value for investors as well as communities, employees, and consumers. The Vistria Group works as a true partner with its portfolio companies, drawing on its deep sector knowledge, operational expertise, unique network, diverse team, and impact orientation to achieve transformational growth. With over $10 billion in AUM, The Vistria Group believes it has delivered attractive returns for its investors while achieving positive outcomes for its portfolio companies, and the lives and livelihoods it supports. For more information, please visit www.vistria.com.

About Really Great Reading

Really Great Reading is a leader in the Science of Reading Movement, and an educational content provider of foundational and supplemental literacy skills to primary and secondary grades with a focus on phonics, vocabulary, decoding and fluency. The company has a comprehensive suite of products that include instruction, assessment and professional development that help educators teach the foundational skills that lead to strong decoding and fluent reading.

About A-Street

A-Street is a privately sponsored investment fund with a strategic focus on companies and ideas that drive coherent, differentially effective, and equitable solutions to transform the future of K-12 learning. The company's vision is that every student in our country will have access to rigorous, engaging, and supportive learning experiences that will allow them to access economic and social prosperity. A-Street invests in a mix of early-, growth- and late-stage companies in the areas of instructional content & measurement, teaching sustainability, and students' well-being. For additional information about A-Street, please visit www.astreet.com.

SOURCE The Vistria Group