M&A Deal Summary

Adtalem Global Education Acquires Ross University

On March 19, 2003, Adtalem Global Education acquired education company Ross University from Leeds Equity Partners and Prospect Hill Growth Partners for 310M USD

Acquisition Highlights
  • This is Adtalem Global Education’s 1st transaction in the Education sector.
  • This is Adtalem Global Education’s 2nd largest (disclosed) transaction.
  • This is Adtalem Global Education’s 1st transaction in the United States.
  • This is Adtalem Global Education’s 1st transaction in New Jersey.

M&A Deal Summary

Date 2003-03-19
Target Ross University
Sector Education
Buyer(s) Adtalem Global Education
Sellers(s) Leeds Equity Partners
Prospect Hill Growth Partners
Deal Type Add-on Acquisition
Deal Value 310M USD

Target

Ross University

North Brunswick, New Jersey, United States
website
Ross University is a provider of medical and veterinary education, offering doctor of medicine (M.D.) and doctor of veterinary medicine (D.V.M.) degrees.

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Buyer(S) 1

Buyer

Adtalem Global Education

Chicago, Illinois, United States

website


Category Company
Founded 1987
Sector Education
Employees4,682
Revenue 1.4B USD (2022)
DESCRIPTION
DeVry's corporate headquarters in Downers Grove, Illinois.
DeVry's corporate headquarters in Downers Grove, Illinois.

Adtalem Global Education is a provider of educational services and the parent organization of American University of the Caribbean School of Medicine, Becker Professional Education, Carrington College, Chamberlain College of Nursing, DeVry Brasil, DeVry University, Ross University School of Medicine and Ross University School of Veterinary Medicine. Adtalem Global Education was founded in 1987 and is headquartered in Chicago, Illinois.


DEAL STATS #
Overall 1 of 7
Sector (Education) 1 of 5
Type (Add-on Acquisition) 1 of 5
State (New Jersey) 1 of 1
Country (United States) 1 of 5
Year (2003) 1 of 1
Size (of disclosed) 2 of 6
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-11-01 Advanced Academics

Oklahoma City, Oklahoma, United States

Advanced Academics, Inc. is a distance learning company that offers accredited secondary school courses for students in grades 7 – 12 via the Internet.

Buy $28M

Seller(S) 2

SELLER

Leeds Equity Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1993
PE ASSETS 3.3B USD
Size Large
Type Sector Focused
DESCRIPTION

Leeds Equity Partners is a specialist private equity firm that targets investments in middle-market companies operating in knowledge industries. Specific areas of interest include education (K-12, postsecondary, at-risk/special education, instruction materials, testing), training (corporate training, professional certification/continuing education, language training), and information/business services (b2b publishing, information databases/research, tradeshows/conferences, business process outsourcing, consulting, staffing, marketing). Leeds prefers investing in established companies that are leaders in their respective markets. Leeds Equity Partners was formed in 1993 and is based in New York, New York.


DEAL STATS #
Overall 1 of 21
Sector (Education) 1 of 7
Type (Add-on Acquisition) 1 of 8
State (New Jersey) 1 of 1
Country (United States) 1 of 19
Year (2003) 1 of 2
Size (of disclosed) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-01-01 Sagus International

Oakbrook, Illinois, United States

Sagus International, Inc., is a designer and manufacturer of furniture for the educational, hospitality and healthcare industries. Sagus' primary products include: student chairs and desks; teacher chairs, desks and file cabinets; school cafeteria and classroom tables; music room stages and risers; conference and training folding tables and caddies; and casework (custom) cabinets and tables for classrooms, laboratories and other end-uses. Sagus is headquartered in Chicago and employs approximately 600 people. Sagus operates through three divisions

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-11-03 Datamark

Salt Lake City, Texas, United States

Datamark, Inc. is a full-service marketing company exclusively for colleges and proprietary schools nationwide. Datamark’s hallmark research-based strategies and proprietary technologies make it the high value choice for student recruiting and retention programs that produce results.

Sell $72M
SELLER

Prospect Hill Growth Partners

Waltham, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1995
PE ASSETS 2.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Prospect Hill Growth Partners is a private equity firm specializing in leveraged buyouts and recapitalizations of middle-market growth companies across the US. Prospect Hill looks for profitable businesses ($5 to $25 million of EBITDA) with annual revenues from $50 to $300 million with strong brands and leading market positions. Target sectors include consumer products, healthcare, specialty retail, and asset management. Prospect Hill Growth Partners was formerly known as J.W. Childs and changed its name in 2019. The Firm was originally formed in 1995 and is headquartered in Waltham, Massachusetts.


DEAL STATS #
Overall 4 of 20
Sector (Education) 1 of 1
Type (Add-on Acquisition) 2 of 5
State (New Jersey) 1 of 3
Country (United States) 4 of 20
Year (2003) 1 of 1
Size (of disclosed) 5 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-07-12 Esselte

Stamford, Connecticut, United States

Esselte Corp. is a manufacturer and marketer of office and consumer products. It takes products to market under the Leitz, Rapid and Esselte brands in the storage and organization, stapling and punch, business machines and do-it-yourself tools product categories.

Buy $550M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-08-12 Pinnacle Foods

Parsippany, New Jersey, United States

Pinnacle Foods, Inc. is a manufacturer and marketer of branded convenience food products in the United States and Canada. Its product range includes frozen dinners and entrees, frozen seafood, breakfasts, bagels, pickles, peppers and relish, baking mixes and frostings, and syrups and pancake mixes.

Buy -