Investors Buy Chain of For-Profit Colleges

By GOLDIE BLUMENSTYK

Vatterott College, a Missouri-based company that operates 16 campuses in eight Midwestern states, has been sold to a private equity group that also owns the Lionel model-train company and the Brook Mays Music Company.

Financial terms of the deal were not disclosed, but the acquiring company, New York-based Wellspring Capital Management, says it typically...

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