Education Corporation of America, a privately held for-profit chain of colleges, announced Thursday it would buy for-profit Vatterott Educational Centers. The financial details of the sale were not released.
The Vatterott institutions will continue to operate as Vatterott College, Vatterott Career College and L'Ecole Culinaire. The institutions had previously been owned by TA Associates, a private equity firm.
"We are very excited about this acquisition," said Stu Reed, chief executive officer of ECA. "ECA is committed to being the premier provider of postsecondary education with a career focus, and the purchase of the majority of VEC campuses helps us realize that goal. They expand our footprint into key markets in the Midwest and add a range of new trades-oriented programs to our current offerings. We feel it's a great fit culturally as well because both organizations are passionate about helping students transform their lives through career education."
Education Corporation of America owns and operates Virginia College and Brightwood College, among other institutions.
Originally posted on: InsideHigherEd.com
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