CHICAGO, Feb. 23, 2012 /PRNewswire/ -- HCP & Company (HCP), a middle-market private equity firm headquartered in Chicago, announced the acquisition of Career Training Academy, Inc. (CTA). Terms of the transaction were not disclosed. Mr. Bill Rooney, CTA's Chief Executive Officer, partnered with HCP in the acquisition and will take over day-to-day operations.
CTA is a nationally accredited, Associate's degree and diploma granting, career school providing students with professional skills for careers in allied health. CTA has a rich 25-year history serving the Pittsburgh healthcare community through the operation of three campuses located in the Pittsburgh suburbs of New Kensington, Monroeville and North Hills.
Mr. Rooney is a seasoned business executive with over 25 years of leadership experience in the education and professional services industries. He has held positions as president, chief operating officer, and chief financial officer for various schools in Pennsylvania, Ohio, Indiana and Louisiana. Mr. Rooney is also a former member of the Board of Directors for the Pennsylvania Association of Private School Administrators.
"HCP targeted the postsecondary education market due to the industry's ability to develop flexible educational programs that teach career skills in communities typically underserved by traditional higher education institutions and crowded community colleges," commented Jim Bland, Vice President of HCP. "CTA provides students with a high value, low cost education to pursue allied health careers. CTA will continue its mission of affordable excellence by providing high value, flexible programs to a larger student population through both organic initiatives and add-on acquisitions."
The acquisition of CTA marks HCP's fifth investment out of its second fund and its third in the education sector. "We are pleased to partner with Bill and the educators and staff of CTA," said Victor Maruri, Managing Partner of HCP. "We are dedicated to supporting Bill and his team in their efforts to educate students and provide them with the necessary professional skills for successful healthcare careers."
About HCP & Company
HCP & Company (www.hcpcompany.com) is a private equity firm specializing in growth equity and buyout investments in companies with attractive growth prospects and revenue from $10 million to $100 million. HCP generates sustainable, long-term value for its partners through sector-specific (business services, consumer products, education and healthcare services) and/or demographic driven investment strategies. The firm has approximately $215 million in assets under management.
About Career Training Academy, Inc.
Career Training Academy® is a career school offering programs in Medical and Dental Assisting, Medical Billing and Coding, and Massage Therapy. Our programs are developed with a focus on the career goals of each and every student. CTA's mission and its programs provide an educational environment that enhances learning and personal enrichment of all students, which includes active participation in community service. CTA is accredited by the Accrediting Commission of Career Schools and Colleges and Licensed by The State Board of Private Licensed Schools, Pennsylvania Department of Education.
SOURCE HCP & Company