Concorde Career Colleges

Cherry Tree Advises Concorde Career Colleges on its Sale to Universal Technical Institute

“Much thanks to Mike Buttry and the entire team at Cherry Tree. The Title IV post-secondary sector presents many hurdles to investment transactions. Without the expertise, discipline, diligence, and energy of the Cherry Tree team, we might never have completed the sale of Concorde to UTI. Great job!”

— Tim Foster, Chairman, Concorde Education

Higher Education
Provider of blended, healthcare education programs serving 7,400+ students across 17 campuses in 8 states
Mission, KS
100% Sale to a Publicly Traded For-Profit, Higher Education Company

Transaction Overview

In May 2022, Concorde Career Colleges, a leading provider of healthcare education programs, announced it entered into a definitive agreement to be acquired by Universal Technical Institute, a leading provider of transportation and technical training programs, for $50 million. The transaction was completed in December 2022.

Founded in 1968 and based in Mission, KS, Concorde’s blended education model (online coursework with in-person labs classes and clinical experiences) offers diploma and degree programs across nursing, dental hygiene, and other direct patient care fields, as well as allied health including medical and dental assisting and healthcare administration. The Company serves approximately 7,400 students through its 17 campuses in 8 states and reported $180 million in revenue and $13 million in Adjusted EBITDA for calendar year 2021. The schools operated by Concorde Career Colleges are accredited by either the Accrediting Commission of Career Schools and Colleges (ACCSC) or the Council on Occupational Education (COE).
With the addition of the Concorde brand and its portfolio of programs and campuses, Universal Technical Institute will significantly expand upon its already announced growth and diversification plans. Upon completion of the Concorde acquisition, UTI will serve over 20,000 students across 14 states and 31 locations.

“Universal Technical Institute’s brands have a great reputation with both employers and students in transportation and skilled trades. Concorde Career Colleges has a strong reputation in healthcare education, making this an excellent combination for addressing the nation’s skills gap,” said Concorde CEO Jami Frazier. “I am looking forward to the opportunity to join this organization and become one of the preeminent educational providers in the country.”

“The acquisition of Concorde Career Colleges will be a significant next step in our previously announced growth and diversification strategy,” said Universal Technical Institute CEO Jerome Grant. “We take the responsibility of becoming one of this country’s leading workforce solutions providers seriously, and entering the healthcare space allows us to help even more students and support employers as they seek to solve some of their toughest workforce-related challenges.”

Cherry Tree’s Role

Cherry Tree was engaged to assist Concorde, its board of directors and shareholders in exploring a sale of the business. The Cherry Tree team leveraged its education experience and network of potential buyers to create a competitive sale process that resulted in a favorable outcome for the shareholders, employees, and its students. Cherry Tree’s customized process included introductions and discussions with numerous potential acquirers in marketing the opportunity, soliciting proposals, negotiating terms, supporting due diligence, and facilitating the closing of the transaction. And with our client being a regulated business from the U.S. Department of Education, navigating and advising smoothly through a complicated transaction was essential.

About Concorde Career Colleges:

Concorde Career Colleges operates 17 campuses across eight states under the brands Concorde Career College and Concorde Career Institute, focused on preparing America’s next generation of health care and dental professionals for rewarding careers. The Concorde Career Colleges blended education model combines online coursework with in-person lab classes and clinical experiences. Concorde Career Colleges’ 20 student-focused academic programs and personalized support prepare graduates for in-demand careers in nursing, dental, respiratory, diagnostic, and other health care roles. The schools operated by Concorde Career Colleges are accredited by either the Accrediting Commission of Career Schools and Colleges (ACCSC) or the Council on Occupational Education (COE).

About Universal Technical Institutes:

Founded in 1965 and headquartered in Phoenix, Universal Technical Institute’s (NYSE: UTI) mission is to serve our students, partners, and communities by providing quality education and support services for in-demand careers. Approximately 250,000 students have graduated from one of Universal Technical Institute’s 14 campuses located across Arizona, California, Florida, Illinois, Michigan, North Carolina, Pennsylvania, New Jersey, and Texas. Universal Technical Institute’s campuses are accredited by the Accrediting Commission of Career Schools and Colleges (ACCSC), while its employer-aligned technical training programs are offered under four brands: Universal Technical Institute, Motorcycle Mechanics Institute / Marine Mechanics Institute, NASCAR Technical Institute, and MIAT College of Technology.

About Cherry Tree & Associates

Cherry Tree & Associates is a private investment banking firm headquartered in Minneapolis, Minnesota. Founded in 1980, it specializes in M&A transactions for both buyers and sellers of middle market companies. Additionally, it conducts private placements for high quality, entrepreneurially managed growth companies, provides strategic advisory services for CEOs and boards of directors, and prepares fairness opinions and other valuation services. For more information, please visit:

Cherry Tree & Associates provides investment banking services through our FINRA-licensed broker dealer.