Davis Polk advised Metalmark Capital in connection with its majority investment in WorldStrides. Under the terms of the sale and merger agreement, The Carlyle Group and its co-investors have agreed to sell their majority interest in WorldStrides to Metalmark, its co-investors and the WorldStrides management team.

Davis Polk also advised Metalmark with respect to a new revolving credit facility and term loan for WorldStrides in connection with the acquisition and is providing certain other credit advice.

Metalmark Capital is a leading private equity firm whose principals have a long track record of successful investing in targeted sectors, with particular expertise and focus in industrials, energy and health care. Headquartered in Charlottesville, Virginia, WorldStrides is a leading provider of supplemental educational student travel programs that leads group travel programs to more than 80 countries and serves approximately 200,000 students annually, from elementary through graduate schools.

The Davis Polk corporate team included partner Michael Davis and associates Evan Rosen, Reid B. Fitzgerald and Elyka A. Anvari. Partner Joseph P. Hadley and associates Hilary Dengel and Michael Fan provided credit advice. Partner Kathleen L. Ferrell provided tax advice. Counsel Ron M. Aizen and associate Tricia E. Walsh provided executive compensation advice. All members of the Davis Polk team are based in the New York office.

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