DeVry University, one of the nation’s largest remaining for-profit college chains, is getting a new owner.
The university’s parent company, Downers Grove-based Adtalem Global Education, plans to transfer ownership of DeVry University and its Keller Graduate School of Management to Silicon Valley-based Cogswell Education, according to a news release. The deal, which still needs regulatory and accreditor approval, is expected to close in 2018.
No money will change hands when the deal closes, according to the release. Adtalem will inject working capital into DeVry and be paid out over the next few years based on DeVry’s performance.
