secwatch.observer — SEC 8-K summary
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Issuer:     UNIVERSAL TECHNICAL INSTITUTE INC (UTI)
CIK:        0001261654
Form:       8-K
Filed at:   2022-12-02T23:59:59+00:00
Accession:  0001193125-22-297061
Event type: m_and_a
Sentiment:  positive
Materiality: 0.90
Item codes: 2.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1261654/000119312522297061/0001193125-22-297061-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1261654/000119312522297061/d427049d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-297061

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