Arizona-based Universal Technical Institute, a leading provider of transportation and technical training programs, has entered into a definitive agreement to acquire Concorde Career Colleges, Inc. from Liberty Partners LLC. Terms of the transaction have been disclosed in Universal Technical Institute’s Form 8-K and completion of the acquisition will occur pending customary closing conditions and regulatory approvals. The boards of directors of both companies have unanimously approved the agreement.

Concorde Career Colleges is a leading provider of healthcare education programs focused on preparing students for successful professions in the healthcare sector, which is expected to add about 2.6 million new jobs over the next decade due to attrition in the workforce along with an aging population that is expected to drive increased demand for healthcare services.[1] The company offers diploma and degree programs across nursing, dental hygiene, and other direct patient care fields including physical therapy assistant and respiratory therapy, as well as allied health including medical and dental assisting and healthcare administration.


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Concorde was founded in 1968 and currently serves approximately 7,400 students through its 17 campuses in 8 states.  Concorde’s revenue and adjusted EBITDA for calendar 2021 were approximately $180 million and $13 million, respectively. The schools operated by Concorde Career Colleges are accredited by either the Accrediting Commission of Career Schools and Colleges (ACCSC) or the Council on Occupational Education (COE).

“The acquisition of Concorde Career Colleges will be a significant next step in our previously announced growth and diversification strategy,” said Universal Technical Institute CEO Jerome Grant. “We take the responsibility of becoming one of this country’s leading workforce solutions providers seriously, and entering the healthcare space allows us to help even more students and support employers as they seek to solve some of their toughest workforce-related challenges.  Concorde’s programs, geographic footprint, solid leadership team, exemplary faculty and staff, diverse student body, tight industry alignment, and strong alumni network make this acquisition a great fit.  I also look forward to welcoming Jami Frazier and her talented team to the company. Under Jami’s leadership, UTI’s first step into healthcare will serve as a solid cornerstone for some of our key future growth and diversification efforts.”

With the addition of the Concorde brand and its portfolio of programs and campuses, Universal Technical Institute will significantly expand upon its already announced growth and diversification plans. In fiscal 2022, Universal Technical Institute completed the acquisition of MIAT College of Technology, which brought 2 campuses and 8 unique programs.  Additionally, Universal Technical Institute is opening new campuses in Miramar, Florida., and Austin, Texas and is further expanding its welding programs to 2 additional locations during the fiscal year. Upon completion of the Concorde acquisition, the company will serve over 20,000 students across 14 states and 31 locations. Once completed, the acquisition will add Concorde Career Colleges to Universal Technical Institute, Inc.’s brand family, which currently includes Universal Technical Institute, Motorcycle Mechanics Institute, Marine Mechanics Institute, NASCAR Technical Institute, and MIAT College of Technology.

“Universal Technical Institute’s brands have a great reputation with both employers and students in transportation and skilled trades.  Concorde Career Colleges has a strong reputation in healthcare education, making this an excellent combination for addressing the nation’s skills gap,” said Concorde CEO Jami Frazier.  “I am looking forward to the opportunity to join this organization and become one of the preeminent educational providers in the country.”

“We are excited about the opportunity to add Concorde and their healthcare programs to the Universal Technical Institute portfolio,” said Universal Technical Institute’s CFO Troy Anderson. “The $50 million purchase price provides a compelling enterprise value to adjusted EBITDA multiple and an opportunity to significantly increase our shareholder value. With the addition of Concorde and the broadening of our program offerings, we will accelerate Universal Technical Institute’s revenue, profitability, and cash flow growth over the next several years. We expect the transaction to close during the first half of fiscal 2023, subject to regulatory approvals and other customary closing conditions.”

Universal Technical Institute will post an updated presentation regarding its growth and diversification strategy on its investor relations website.