Chicago Growth Partners Earns High Marks With Sale Of U.S. Education

Healthcare Education Provider Generates Another Win for CGP.

Chicago Growth Partners is pleased to announce the signing of a definitive agreement to sell 100% of U.S. Education Corporation to Devry Inc. for $290 million. The sale marks the end of a successful six-year investment, during which U.S. Education grew to become one of the leading providers of healthcare education in the western United States. U.S. Education prepares students for careers in healthcare through certificate and associate degree programs in rapidly growing fields such as nursing, radiography, surgical technology, pharmacy technology, dental hygiene, and medical and dental assisting. The company operates 17 campus locations in the western United States and currently serves more than 8,500 students and has more than 65,000 alumni. U.S. Education operates with a long-standing commitment to high-quality academic programs, compelling student outcomes and a strong reputation for ethical behavior, management integrity and regulatory quality.

During CGP’s investment, the company grew to over $140 million in revenue through a combination of organic growth, strategic acquisitions and a transition to higher-end healthcare programs. U.S. Education capitalized on the unmet and growing demand for well-trained, licensed healthcare professionals by expanding its course offerings and opening new campuses. CGP worked closely with management on several initiatives, and supported the company with additional capital in four highly strategic acquisitions.

“U.S. Education is an excellent example of CGP’s core investment philosophy,” stated CGP Managing Partner David Chandler. “We identified a growing market in healthcare education, backed a proven management team led by George Montgomery and together drove rapid growth through acquisitions and the addition of new campuses and new programs.” “I am particularly pleased that one of our largest investment to date and the transaction which led to my enduring partnership with Dave (Chandler) and CGP has become a very attractive outcome for CGP,” said Rob Healy, Managing Partner at CGP. “The education sector will continue to be a particular area of focus for CGP through current and new investments.” Six years ago, just prior to joining CGP, Mr. Healy led the original U.S. Education investment for CGP’s partner in the deal, ClearLight Partners.

The CGP deal team included David Chandler, Rob Healy and Jeff Farrero.