Permira Advisers LLP agreed to sell Renaissance Learning Inc. to Hellman & Friedman LLC for $1.1 billion, quadrupling its 2011 investment in the education- analytics company.

The deal, announced in a statement today from Renaissance, translates into estimated proceeds of about $600 million for Permira, which contributed about $197 million of equity in the 2011 buyout, according to a Moody’s Investors Service report at the time. The London-based firm and its clients also planned to extract approximately $234 million in dividends last year, according to the ratings company. (For more coverage on the education sector, see "With Dealmakers, School is Still in Session.")

Subscribe Now

Complete access to real-time information and analysis of news and trends in the industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.