Mission Viejo-based U.S. Education Corp. is being bought by vocational school operator DeVry Inc. of Illinois for $290 million, the companies said Wednesday.
U.S. Education runs for-profit schools under the Apollo College and Western Career College brands, which offer training in nursing, ultrasound, radiography technology, surgical technology and other healthcare fields.
The company’s schools count more than 8,700 students at its 17 campuses in California, Nevada, Washington, Oregon, Idaho, Arizona and New Mexico.
U.S. Education is partially owned by Newport Beach-based private equity firm ClearLight Partners LLC.
The acquisition should help U.S. Education expand, according to Chief Executive George Montgomery.
“This transaction is strategically compelling, delivering benefits to both our students and employees. Employees will have the opportunity to be part of an even more dynamic and growing organization,” Montgomery said. “We have great respect for DeVry as our purposes, values and cultures complement each other extremely well. We are excited about joining the DeVry team.”
The buyout, which is expected to close in September, is intended to boost DeVry’s training programs in healthcare.
DeVry, which has a market capitalization of $4 billion, is one of the largest operators of for-profit schools in the nation with programs in technology, health care, automotive, among other areas.
