Concorde Career Colleges, Inc. (Concorde), a private career education provider that offers more than 20 programs across the allied health, dental, nursing, patient care and diagnostic fields at 17 campus locations across eight states, and which is a portfolio company of longstanding private equity client Liberty Partners, has been acquired by Universal Technical Institute, Inc. (NYSE: UTI) in a $50 million all-cash deal.
Faegre Drinker’s education team advised Concorde on all education regulatory aspects of the transaction documents, as well as pre-closing approval processes with over 40 accrediting, state and federal agencies. The addition of Concorde’s 17 campuses more than doubles Universal Technical Institute’s total number of campuses, increases enrollment by approximately 8,000 students, and expands their educational healthcare offerings during a critical, nationwide shortage of healthcare workers.
