Universal Technical acquires the three buildings at its Orlando Campus for $26M

Universal Technical Institute, or UTI, a division of Universal Technical Institute announced the purchase of the three buildings it fully occupies at its Orlando, Fla. campus, which offers technician training programs in automotive, diesel, motorcycle and marine. In February 2022, UTI completed the consolidation of its UTI-Orlando and MMI-Orlando campuses into the current location, which includes the three buildings being purchased and subleased space in a fourth building. The purchase of the buildings, which total 154,300 square feet, as well as the 20 acres of associated land, was for $26M and will be funded from cash on hand, which includes funds from the Company’s November 2022 revolving credit facility draw. The expected annual adjusted EBITDA benefit is approximately $2M and after-tax cash savings are approximately $500,000.