M&A
confidence high
sentiment neutral
materiality 0.50
UTI subsidiary purchases 34.2% indirect interest in own Lisle campus, raising ownership to 62.2%
UNIVERSAL TECHNICAL INSTITUTE INC
- Purchase price was $13.4 million, paid with cash on hand.
- Acquired 47.5% of a REIT that holds a 34.2% indirect interest in the campus-owning entity.
- UTI Ventures now holds 62.2% of the Target (2611 Corporate West Drive Venture LLC).
- Transaction closed February 8, 2022; no operational changes at the Lisle campus.
- Company states it now has ability to seek full ownership of the campus later.