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Aristotle Announces ‘Reverse’ Merger
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Business New Haven
12/10/2001
By: BNH
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NEW HAVEN - Aristotle Corp. (NASDAQ: ARTL) has signed an agreement to merge with Nasco International Inc. (Nasco), a subsidiary of privately-held Geneve Corp. Aristotle will be the surviving corporation and will continue to be a publicly-held company listed on the NASDAQ Small Cap Market. Since Nasco is a significantly larger company than Aristotle, the combination will be accounted for as a reverse merger, resulting in financial statements that will be presented as if Aristotle merged into Nasco.
Headquartered in Fort Atkinson, Wisc., Nasco is a manufacturer and distributor of education and health products sold principally to the K-12 market throughout the U.S. During 2001, Nasco acquired American Educational Products of Fort Collins, Colo., and Spectrum Educational Supplies, headquartered in Toronto, Canada. All of Nasco's operations complement the health-education products manufactured by Aristotle's subsidiary, Simulaids Inc., based in Woodstock, N.Y. For the 12 months ended September 30, Aristotle and Nasco would have had combined annualized sales of approximately $160 million and adjusted EBITDA of approximately $21 million.
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