Deals
Bain Capital Leads Group to Buy For-Profit School Penn Foster
- Private equity firm used socially responsible fund for deal
- For-profit schools have fallen out of favor in recent years
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Bain Capital is purchasing a Pennsylvania for-profit school, entering an embattled higher-education sector to address the skills gap of U.S. workers.
The Boston-based private equity firm led a group in acquiring Penn Foster from Vistria Group, a Chicago-based private investment firm, according to a statement Tuesday. Bain used its socially-responsible fund to make the purchase. No terms were disclosed.