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Healthcare educator Adtalem Global Education has completed the divestiture of its financial services segment to a consortium of Wendel Group and Colibri Group in a $1 billion all-cash transaction.

The assets sold include ACAMS (Association of Certified Anti-Money Laundering Specialists), Becker Professional Education and OnCourse Learning.

Becker offers certified public accountant (CPA) exam prep and products in accounting continuing professional education, as well as certified management accountant test prep. It has helped candidates with their CPA licensure for more than 60 years and has partners in nearly 40 countries including the top 100 US accounting firms. It is headquartered in Downers Grove, Illinois.

OnCourse Learning is a Brookfield, Wisconsin-based provider of regulatory and compliance education solutions for the mortgage and financial sectors, offering enterprise compliance, risk management and professional development education to compliance teams, executive leadership and board directors.

The buyers are Paris-based Wendel Group, one of Europe’s largest listed investment firms, and Colibri Group, a Gridiron Capital’s portfolio company based in St. Louis, US, which offers online learning to millions of professionals.

As previously announced, Adtalem will deploy approximately $770 million of the approximate $820 million in net proceeds from the divestiture to pay down debt. The company anticipates annualised interest expense savings of approximately $40 million as a result of paying down $770 million in debt, which it intends to do within 30 days.

Stephen Beard, Adtalem
Stephen Beard, president and chief executive of Adtalem

Date published: 11 March 2022

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