Wendel Group and Colibri Group’s $1 Billion Acquisition of Financial Services Segment From Adtalem Global Education

Finn Dixon & Herling acted as legal counsel to Colibri and Gridiron, while Kirkland & Ellis, as Wendel’s legal advisor. Skadden, Arps, Slate, Meagher & Flom advised Adtalem Global Education on the deal.

Adtalem Global Education, a leading provider of professional talent to the healthcare industry, announced it has entered into a definitive agreement to sell its Financial Services segment, which includes ACAMS (Association of Certified Anti-Money Laundering Specialists), Becker Professional Education and OnCourse Learning, to a consortium of Wendel Group and Colibri Group in an all cash transaction for $1 billion. The transaction is expected to close in the third quarter of fiscal year 2022, subject to customary closing conditions. 

Adtalem Global Education (NYSE: ATGE), a leading workforce solutions provider, partners with organizations in the healthcare and financial services industries to solve critical workforce talent needs by expanding access to education, certifications and upskilling programs at scale. With a dedicated focus on driving strong outcomes that increase workforce preparedness, Adtalem empowers a diverse learner population to achieve their goals and make inspiring contributions to the global community. 

Wendel is one of Europe’s leading listed investment firms. The Group invests in Europe and North America in companies which are leaders in their field, such as Bureau Veritas, Tarkett, Stahl, IHS Towers, Constantia Flexibles, and Crisis Prevention Institute.

Colibri Group, a Gridiron Capital company based in St. Louis, helps millions of professionals manage and advance their careers through online learning solutions, focused on licensing, continuing education, industry news, and job opportunities for healthcare, real estate, appraisal and financial services, among other professions.

Morgan Stanley & Co. LLC served as Adtalem’s financial advisor in the sale of the financial services segment. Houlihan Lokey served as Colibri and Gridiron’s financial advisor. Macquarie Capital served as Wendel’s financial advisor.

The Skadden team included M&A partners Chadé Severin (Picture; Boston), Thomas Greenberg (New York) and Paul Schnell (New York) and associates Lily Huang (New York), Gregory Schuster (Boston), Ariel Borgendale (Boston) and Serena Patel (Chicago); Banking partner Janine Jjingo (New York); Intellectual Property and Technology partner Bruce Goldner (New York); Antitrust/Competition partner Maria Raptis (New York); Tax Partner Jessica Hough (Washington, D.C.) and associate Robert Stevenson (Washington, D.C.); Executive Compensation and Benefits partner Erica Schohn (New York) and counsel Laura Westfall (New York); Labor and Employment Law of counsel Helena Derbyshire (London) and counsel Anne Villanueva (Palo Alto.)

Involved fees earner: Laura Westfall – King & Spalding; Ariel Borgendale – Skadden; Helena Derbyshire – Skadden; Bruce Goldner – Skadden; Thomas Greenberg – Skadden; Jessica Hough – Skadden; Lily Huang – Skadden; Janine Jjingo – Skadden; Serena Patel – Skadden; Maria Raptis – Skadden; Paul Schnell – Skadden; Erica Schohn – Skadden; Gregory Schuster – Skadden; Chadé Severin – Skadden; Robert Stevenson – Skadden; Anne Villanueva – Skadden;

Law Firms: King & Spalding; Skadden;

Clients: Adtalem Global Education Inc;