secwatch.observer — SEC 8-K summary
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Issuer:     UNIVERSAL TECHNICAL INSTITUTE INC (UTI)
CIK:        0001261654
Form:       8-K
Filed at:   2022-05-04T23:59:59+00:00
Accession:  0001193125-22-139032
Event type: m_and_a
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

UTI to acquire Concorde Career Colleges for $50M cash, expanding into healthcare education
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- Acquisition price $50M cash; Concorde 2021 revenue ~$180M, adjusted EBITDA $13M.
- Concorde serves ~7,400 students across 17 campuses in 8 states; programs in nursing, dental, allied health.
- UTI expects close in first half of fiscal 2023; subject to regulatory approvals including Dept of Education review.
- Revised fiscal 2025 target: revenue >$700M, adjusted EBITDA margin ~20%.
- UTI to fund with cash on hand; boards of both companies unanimously approved.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1261654/000119312522139032/0001193125-22-139032-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1261654/000119312522139032/d230789d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-139032

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