William Blair & Company acted as exclusive financial advisor to Chancellor University (Chancellor) in connection with the sale of the Jack Welch Management Institute (JWMI) from Chancellor to Strayer Education Inc. (Strayer). This was William Blair's 33rd Knowledge Services transaction, representing approximately $3 billion in transaction value.
The mission of JWMI is to offer the most leadership-focused business online education, teaching immediately applicable principles and practices based on the management canon of Jack Welch and other renowned business leaders. Defined by the core belief that winning individuals and organizations create jobs, galvanize growth, and give back to society, JWMI graduates Executive MBA and certificate students prepared to change the trajectory of their companies and careers. Chancellor is a regionally accredited university founded in 1848 in Cleveland, OH. One of the oldest business universities in the country, Chancellor offers online and campus-based degree programs in business, criminal justice, health services, paralegal services and public administration.
Strayer (Nasdaq: STRA) is an education services holding company that owns Strayer University and certain other assets. Strayer University is a proprietary institution of higher learning that offers undergraduate and graduate degree programs in business administration, accounting, information technology, education, health services administration, public administration, and criminal justice to working adult students at 92 campuses in 22 states and Washington, D.C. and worldwide via the Internet. Strayer University is committed to providing an education that prepares working adult students for advancement in their careers and professional lives. Founded in 1892, Strayer University is accredited by the Middle States Commission on Higher Education.
William Blair was engaged by Chancellor to evaluate various strategic and financial alternatives including a sale of its JWMI assets. In connection with the engagement, William Blair marketed the Company to a targeted group of potential acquirers, created a management presentation, coordinated the due diligence process and assisted in negotiating the key elements of the letter of intent and definitive purchase agreement.
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William Blair & Company's recent Business Services transactions.