Heald's CEO and president, Nolan Miura, as well as his team, will join Corinthian as a new and separate division.
"We believe the transaction will allow us to build on past success by giving Heald access to greater resources and through the sharing of best practices," says Miura.
Corinthian Colleges – which is one of the largest post-secondary education firms in the U.S. and Canada – currently has a student population of more than 86,000 and generates annual revenue of $1.3 billion. The company will finance the transaction through its $280 million credit facility and available cash. The deal is expected to close in the third quarter of 2010. << PREVIOUS PAGE