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Laureate Education, Inc. Agrees to Sell University of St. Augustine for Health Sciences to Altas Partners

BALTIMORE, April 25, 2018 (GLOBE NEWSWIRE) -- Laureate Education, Inc. (NASDAQ:LAUR), the world’s largest global network of higher education institutions, announced today that it has signed an agreement with Altas Partners, a long-term oriented investment firm, for the sale of the University of St. Augustine for Health Sciences (USAHS), contingent on the receipt of all necessary regulatory and accreditation approvals.

USAHS is one of the nation’s leading graduate health sciences universities offering degrees primarily in physical therapy, occupational therapy, and nursing, as well as continuing education programs. Founded in 1979, USAHS educates students through its network of campuses in San Marcos, California; St. Augustine, Florida; Austin, Texas; and Miami, Florida; and through its online programs. USAHS is accredited by the Western Association of Schools and Colleges (WASC) Senior College and University Commission (WSCUC).

Commenting on the transaction, Eilif Serck-Hanssen, Chief Executive Officer of Laureate, said, “I am proud of the transformation and growth that USAHS has accomplished during its years in the Laureate International Universities network. It has grown from an institution focused on physical and occupational therapy into the nation’s leading graduate health sciences university. I am confident that with the stewardship and support of Altas Partners, USAHS will continue to advance its mission of developing practice-ready health care professionals.”

Commenting on the transaction, Damon Conway, a Principal at Altas Partners, said, “USAHS is a world-class institution that delivers exceptional student outcomes. We are excited to be partnering with the management team to build upon its tremendous success and support its plans for the future.”

The transaction is expected to be completed in the fourth quarter of 2018, subject to regulatory approvals, including approval by the U.S. Department of Education and WASC. The transaction value is USD 400 million, subject to customary adjustments at closing. The two parties look forward to a smooth transition and timely completion of the process.

Macquarie Capital acted as exclusive financial advisor to Laureate Education, Inc., while Drinker Biddle & Reath LLP acted as legal advisor. Kirkland & Ellis LLP and Cooley LLP acted as legal advisors to Altas Partners.

About Laureate Education, Inc.
Laureate Education, Inc. is the largest global network of degree-granting higher education institutions, with more than one million students enrolled at over 60 institutions in more than 20 countries at campuses and online. Laureate offers high-quality, undergraduate, graduate and specialized degree programs in a wide range of academic disciplines that provide attractive employment prospects. Laureate believes that when our students succeed, countries prosper and societies benefit.

For more information: www.laureate.net

About Altas Partners
Altas Partners is an investment firm with a long-term orientation focused on acquiring significant interests in high-quality enterprises in partnership with outstanding management teams. Key elements of its approach include prudent capital structures, active ownership through strategic and operational support and an emphasis on sustainable value creation. Altas invests on behalf of endowments, foundations, public pension funds and other institutional investors.

For more information: http://www.altaspartners.com

Media Contacts:  
   
Laureate Education, Inc. Ruder Finn
Esther Benjamin Maryam Ayromlou
Esther.Benjamin@laureate.net ayromloum@ruderfinn.com
U.S.: +1 (443) 301 3091 U.S.: +1 (703) 474 5685
   
Altas Partners  
Sard Verbinnen & Co.  
Mike DeGraff / Julie Rudnick  
U.S.: +1 (312) 895-4700 / +1 (212) 687-8080  

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