Private equity firm HIG Capital (HIG) has sold its portfolio company Constructive Media (CM) to Sandbox & Co (Sandbox) on behalf of Figjam Group Ltd.
Established over 20 years ago, CM is one of the largest digital media platforms at the intersection of education and casual gaming. The Company has curated and developed a large selection of highly entertaining thinking games across a range of genres and age groups for desktop and mobile. With its unique mix of “edutainment” content, CM has become one of the most trusted and popular brands on the internet with over 400 million users across the globe.
During HIG’s investment period and partnership with CM, the Company achieved double-digit annual growth in users, substantially expanded the product and content offerings, and continued to invest in technology. In addition, the Company launched a subscription version of its gaming platform in 2017.
“We have had an exceptional partnership with the CM management team and are proud of the expansion and growth that the Company has enjoyed,” says John Von Bargen, a Managing Director at HIG “Through continued investments in people and content, CM has developed into one of the most successful properties in educational gaming. We look forward to the Company’s continued success in partnership with Sandbox.”
Greg Barlow, CM’s CEO, says: “We have enjoyed partnering with HIG over the past few years. Our team has valued the continued support and leadership provided throughout our partnership as we worked to achieve our goals and growth initiatives. We are excited to join Sandbox and its portfolio of complementary companies.”
