Private equity firm HCP & Co. sold MIAT College of Technology to Universal Technical Institute Inc., a publicly traded system of technical colleges located throughout the United States. Faegre Drinker represented HCP in the transaction.
MIAT provides technical career training in aviation maintenance, aircraft dispatch, and energy and industrial technology at campuses in Canton, Michigan and Houston, Texas. The firm provided counsel to HCP and MIAT on all education regulatory aspects of the transaction documents as well as through the pre-closing approval processes with the Michigan Department of Licensing and Regulatory Affairs, the Texas Workforce Commission, the Texas Higher Education Coordinating Board, the Accrediting Commission of Career Schools and Colleges, the U.S. Department of Education and other applicable regulatory agencies.
