Tangible Play, Inc., d/b/a Osmo (“Osmo” or the “Company”) is a pioneering education technology company that merges tangible, hands-on learning tools with digital content. Focused on early childhood and K-12 education, Osmo’s award-winning solutions integrate tangible play with innovative software to deliver engaging, curriculum-aligned learning experiences.
Osmo sales grew rapidly during 2020 when remote schooling dominated the K-12 educational experience. However, in late 2022, Osmo felt the impact of falling post-pandemic demand for remote learning products and the downdraft in the education technology market as children returned to attending school in person. Osmo made large cuts to spending across operations and marketing and moved nearly all support positions overseas to rationalize costs and to conserve liquidity. Ultimately, Osmo was shuttered due to declining sales and performance issues.
SC&H Capital (“SC&H”) was retained to conduct an extensive marketing process in search of a buyer for the Company’s assets and to effectuate the transaction through a Chapter 11 Section 363 sale. Despite having ceased operations, in addition to limited historical financial statements, SC&H positioned the Company as an attractive opportunity to restart the Company and leverage Osmo’s historical brand equity across its loyal customer base.
Ultimately, SC&H conducted a competitive auction for select assets with multiple qualified bidders. After multiple rounds of bidding, and an over 300% increase from the stalking horse bid, SC&H sold Osmo to a Play Osmo, an independent buyer who restarted the operations and sales of the legacy Osmo products.
