Vatterott Sold to TA Associates

TA Associates plans to buy Vatterott Educational Centers Inc. from Wellspring Capital Management for an undisclosed sum.

Founder John Vatterott sold the St. Louis vocational school to Wellspring, a New York-based private equity firm, for $50 million in 2003.

The Vatterott management team, led by Chief Executive Pam Bell, will continue to lead the company under TA’s ownership.

St. Louis-based Vatterott is one of the largest private proprietary post-secondary education companies in the nation, serving more than 7,500 students a year at 23 campuses in Ohio, Illinois, Tennessee, Missouri, Iowa, Nebraska, Oklahoma, Kansas and Texas. Last month, Vatterott opened a campus in Fairview Heights, Ill., its first in southern Illinois.

The transaction is expected to close in the fourth quarter.

TA Associates, a private equity firm with offices in Boston, London, Menlo Park, Calif., and Mumbai, has invested in nearly 400 companies and manages more than $16 billion in capital.

Wellspring manages more than $2 billion of private equity capital.


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