The all-online, for-profit Northcentral University has agreed to be bought by private-equity investors.

The 7,500-student university, which was founded in 1996, caters primarily to students pursuing advanced degrees.

No financial terms for the transaction were disclosed. The institution has its headquarters in Arizona, and is not related to the similarly named North Central University, a private nonprofit institution in Minnesota.

Northcentral’s buyers are Rockbridge Growth Equity, located near Detroit, and Primus Capital, based in Cleveland. The founding partner of Rockbridge is the majority owner of Quicken Loans, an Internet-based marketer of mortgages. In a news release, Rockbridge said it would use its online-marketing abilities to expand the institution’s already extensive Web-based recruiting.

The deal comes as another Arizona for-profit institution with a strong online presence, Grand Canyon University, is preparing to raise money on Wall Street through an initial public offering to investors. —Goldie Blumenstyk