M&A Deal Summary

Adtalem Global Education Acquires U.S. Education

On September 18, 2008, Adtalem Global Education acquired education company U.S. Education from ClearLight Partners and Chicago Growth Partners for 290M USD

Acquisition Highlights
  • This is Adtalem Global Education’s 3rd transaction in the Education sector.
  • This is Adtalem Global Education’s 3rd largest (disclosed) transaction.
  • This is Adtalem Global Education’s 3rd transaction in the United States.
  • This is Adtalem Global Education’s 1st transaction in California.

M&A Deal Summary

Date 2008-09-18
Target U.S. Education
Sector Education
Buyer(s) Adtalem Global Education
Sellers(s) ClearLight Partners
Chicago Growth Partners
Deal Type Add-on Acquisition
Deal Value 290M USD

Target

U.S. Education

Alhambra, California, United States
website
Carrington Colleges acquire, develop, and grow private career colleges throughout the Western United States. The company's colleges offer postsecondary education programs.

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Buyer(S) 1

Buyer

Adtalem Global Education

Chicago, Illinois, United States

website


Category Company
Founded 1987
Sector Education
Employees4,426
Revenue 1.1B USD (2021)
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 3 of 7
Sector (Education) 3 of 5
Type (Add-on Acquisition) 3 of 5
State (California) 1 of 1
Country (United States) 3 of 5
Year (2008) 1 of 1
Size (of disclosed) 3 of 6
PREVIOUS 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
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-31 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.

Sell -

Seller(S) 2

SELLER

ClearLight Partners

Newport Beach, California, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2000
PE ASSETS 900M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

ClearLight Partners LLC is a private equity firm that invests in mid-sized companies with strong cash-flow margins and limited capital intensity. ClearLight looks for US and Canadian headquartered companies with annual revenues between $20 and $250 million and EBITDA of $4 and $15 million. ClearLight targets investments across a broad range of industries with a particular interest in specialty manufacturing and distribution, business services, education and training, healthcare services, specialty finance, and consumer products and services. The Firm's target investment size is $10 to $50 million per transaction. ClearLight Partners was formed in 2000 and is based in Newport Beach, California.


DEAL STATS #
Overall 1 of 9
Sector (Education) 1 of 2
Type (Add-on Acquisition) 1 of 5
State (California) 1 of 2
Country (United States) 1 of 9
Year (2008) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-07-02 American Asphalt & Grading Company

North Las Vegas, Nevada, United States

American Asphalt & Grading Company provides integrated construction services to the Southern Nevada residential homebuilding market. AAG provides a suite of site development and preparation services including excavation, paving, pavement maintenance, and concrete placement for curbs, gutters and sidewalks.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-12-01 Pure Health Solutions

Vernon Hills,, Idaho, United States

Pure Health Solutions, Inc. is a manufacturer and marketer of point-of-use water purification coolers. PHSI was founded in 1996 and is headquartered in Sandpoint, ID with production facilities in Seoul, South Korea.

Buy -
SELLER

Chicago Growth Partners

Chicago, Illinois, United States

website


Category Growth Capital Firm
Founded 2004
PE ASSETS 1.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Chicago Growth Partners LLC (CGP) was a Chicago-based based private equity firm that provided expansion and buyout capital to middle-market companies generating sales of $15 to $150 million. CGP sought to invest in business services, consumer services, healthcare products/services, and industrial companies. CGP was formed in 2004 as a spin-off of William Blair Capital Partners, the investment group of investment bank William Blair. In 2014, the Firm ceased operations.


DEAL STATS #
Overall 15 of 34
Sector (Education) 1 of 4
Type (Add-on Acquisition) 7 of 15
State (California) 4 of 10
Country (United States) 13 of 31
Year (2008) 2 of 2
Size (of disclosed) 3 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-06-30 EAB

Washington, District of Columbia, United States

EAB is a provider of best practices research, student success management software and data-enabled enrollment solutions to the not-for-profit higher education and K-12 markets. The Company’s solutions help institutions increase enrollment yield, balance financial aid with revenue generation, drive higher student retention and success, and implement industry best practices derived from benchmarking and research. EAB was formed in 1983 and is based in Washington, District of Columbia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-07-30 SESI

Yardley, Pennsylvania, United States

SESI is a provider of non-public, for-profit educational services for children with learning and behavioral difficulties in the K-12 market.

Buy -