Adtalem Global Education Announces Definitive Agreement to Divest Financial Services Segment – Form 8-K/A


Adtalem Global Education Announces Definitive Agreement

to divest the financial services segment

The Wendel Group consortium and Colibri Group will buy the segment for 1 billion dollars

CHICAGO – Jan. 24, 2022 – Adtalem Global Education (NYSE: ATGE), a leading provider of professional talent to the healthcare industry, today announced that it has entered into a definitive agreement to sell its financial services segment, which includes Association of Certified Anti-Money Laundering Specialists (ACAMS), Becker Professional Education and OnCourse Learning, to a consortium of Wendel Group and Colibri Group in a $1 billion all-cash transaction. The transaction is expected to close in the third quarter of fiscal 2022, subject to customary closing conditions.

“We are extremely proud of the tremendous growth and operating performance we have generated in our financial services segment over the past two years, which has unlocked significant shareholder value through this transaction,” said Steve Beard, President and CEO of Adtalem. Global education. “I am confident that each of the brands and companies in the financial services segment will continue to be leaders in their respective markets under the new leadership of Wendel and Colibri.

“This transaction is the culmination of a long-term strategy to better focus our portfolio and significantly improve our ability to meet – at scale – the growing and unmet demand for healthcare professionals in the United States” , added Beard.

The Wendel group, based in Paris, is one of the largest listed investment companies in Europe. It selects companies that are leaders in making long-term investments. Colibri Group, a St. Louis-based Gridiron Capital company, helps millions of professionals manage and advance their careers through e-learning solutions.

The company will begin reporting the financial services segment as a held-for-sale and discontinued operation in its second quarter fiscal 2022 earnings report.

Morgan Stanley & Co. LLC acted as financial advisor to Adtalem and Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor in the sale of the financial services segment. Houlihan Lokey served as financial advisor to Colibri and Gridiron and Finn Dixon & Herling LLP as legal advisor. Macquarie Capital acted as financial advisor to Wendel and Kirkland & Ellis LLP acted as legal advisor.

About Adtalem Global Education

Adtalem Global Education (NYSE: ATGE), a leading workforce solutions provider, partners with organizations in the healthcare and financial services industries to address critical workforce needs works by expanding access to education, certifications and development programs at scale. With a focus on delivering strong outcomes that increase workforce readiness, Adtalem empowers a diverse learner population to achieve their goals and make inspiring contributions to the global community. Adtalem is the parent organization of ACAMS, American University of the Caribbean School of Medicine, Becker Professional Education, Chamberlain University, EduPristine, OnCourse Learning, School of Medicine from Ross University, Ross University School of Veterinary Medicine and Walden University. Adtalem has over 10,000 employees, a network of over 275,000 alumni and serves over 82,000 members in 200 countries and territories. Adtalem was named one of America’s Most Responsible Companies 2021 by Newsweek and one of America’s Best Diversity Employers 2021 by Forbes. Follow Adtalem on Twitter (@adtalemglobal), LinkedIn or visit for more information.

About the Wendel Group

Wendel is one of the leading listed investment companies in Europe. The Group invests in Europe and North America in leading companies in their field such as Bureau Veritas, Tarkett, Stahl, IHS Towers, Constantia Flexibles, Crisis Prevention Institute. Wendel often plays an active role as a controlling or significant shareholder in its portfolio companies. Wendel seeks to implement long-term development strategies, which consist of boosting the growth and margins of companies in order to strengthen their leading positions in their markets.

About the Colibri Group

Colibri Group, a St. Louis-based Gridiron Capital company, helps millions of professionals manage and advance their careers with e-learning solutions, focused on licensing, continuing education, industry news and employment opportunities in healthcare, real estate, appraisal and financial services. , among other professions.

Forward-looking statements

Certain statements in this press release are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. current fact, which includes statements regarding the future impact of the novel coronavirus (“COVID-19”) pandemic. ), vaccine efficacy and distribution, and the pending sale of the financial services segment, including our expected net proceeds and whether the pending sale will be completed on schedule, if any. Forward-looking statements may also be identified by words such as “future”, “believe”, “expect”, “anticipate”, “estimate”, “plan”, “intend”, “may”. , “will”, “would”. ‘, ‘could’, ‘may’, ‘continue’, ‘preliminary’, ‘range’ and other similar terms. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those described in the statements. These risks and uncertainties include the risk factors described in Item 1A. “Risk Factors” in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) and our other filings with the SEC. These forward-looking statements are based on information available to us as of the date such statements are made, and we undertake no obligation to update any forward-looking statement except as required by law.

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