---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-22-297061"
form_type: "8-K"
ticker: "UTI"
cik: "0001261654"
company_name: "UNIVERSAL TECHNICAL INSTITUTE INC"
filed_at: "2022-12-02T23:59:59+00:00"
generated_at: "2026-06-21T10:07:34.480559+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# UTI completes $50M cash acquisition of Concorde Career Colleges, expanding into healthcare education

## Summary
- Cash purchase price $50M; Concorde operates 17 campuses in 8 states with ~8,000 students.
- Concorde's unaudited TTM revenue ~$200M and adjusted EBITDA ~$17M as of Sept 30, 2022.
- Combined entity serves 20,000+ students across 33 locations in 14 states.
- Concorde CEO Jami Frazier appointed President of UTI's new Healthcare Division, reporting to CEO Jerome Grant.
- UTI plans to add new programs, grow online offerings, and optimize campuses post-close.

## SEC filing metadata
- accession: 0001193125-22-297061
- form_type: 8-K
- ticker: UTI
- cik: 0001261654
- company_name: UNIVERSAL TECHNICAL INSTITUTE INC
- filed_at: 2022-12-02T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 2.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1261654/000119312522297061/0001193125-22-297061-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1261654/000119312522297061/d427049d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-22-297061
- JSON: https://secwatch.observer/filing/0001193125-22-297061.json
- Plain text: https://secwatch.observer/filing/0001193125-22-297061.txt

## Key facts
- M&A Transactions
  UNIVERSAL TECHNICAL INSTITUTE INC completed an acquisition involving Concorde Career Colleges, Inc. for $50.0 million in cash (closed 2022-12-01).
  - Action: acquisition
  - Counterparty: Concorde Career Colleges, Inc.
  - Consideration: $50.0 million in cash
  - Closing: 2022-12-01
  source text: and online formats. Under the terms of the Purchase Agreement, UTI acquired of all of the issued and outstanding shares of capital stock of Concorde for a base purchase price of $50.0 million in cash, subject to certain customary adjustments as set forth in the Purchase Agreement. As a result of the transactions contemplated by the Purchase Agreement, Concorde is now
  evidence_url: https://www.sec.gov/Archives/edgar/data/1261654/000119312522297061/0001193125-22-297061-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.