secwatch.observer — SEC 8-K summary
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Issuer:     UNIVERSAL TECHNICAL INSTITUTE INC (UTI)
CIK:        0001261654
Form:       8-K
Filed at:   2021-11-01T23:59:59+00:00
Accession:  0001193125-21-315383
Event type: m_and_a
Sentiment:  positive
Materiality: 0.70
Item codes: 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

UTI completes $26M cash acquisition of MIAT College of Technology
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- Acquisition adds campuses in Texas and Michigan; MIAT offers programs in aviation, wind, robotics, and welding.
- MIAT reported ~$29M revenue and ~$3.9M adjusted EBITDA for the 12 months ended Sept. 30, 2021.
- MIAT had over 1,200 active students as of Sept. 30, 2021; UTI now serves over 14,000 students across 14 campuses.
- UTI expects double-digit annual revenue growth and margin expansion from this acquisition and organic growth.
- Purchase price of $26M paid with cash on hand; Barrington Research acted as financial adviser.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1261654/000119312521315383/0001193125-21-315383-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1261654/000119312521315383/d247188d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-21-315383

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer