Sard Verbinnen & Co. represents investment firm Atlas Partners’ $400M takeover of University of St. Augustine for Health Sciences from Laureate Education Inc., for-profit college chain.
Founded in 1979, USAHS offers graduate degrees in physical therapy, occupational therapy, nursing, as well as continuing education programs through campuses in St. Augustine, Miami, Austin, San Marcos (CA) and online. It generated 2017 revenues of $90M and $31M operating profit.
USAHS joins St. George’s University as AP’s second college investment.
Laureate, which is based in Baltimore, is listed on the NASDAQ. It is controlled by a limited partnership with investors Kohlberg Kravis Roberts & Co., Sterling Fund Management, Cohen Private Ventures, Snow Phipps Group, Bregal Investments and StepStone Group.
Sard Verbinnen’s Mike DeGraff and Julie Rudnick handle Atlas, while Ruder Finn’s Maryam Ayromlou represents Laureate.