Approximately 5,800 students are enrolled in AEC. The colleges operate under several different names, including Michiana College, Asher School of Business and Brown Mackie College as well as AEC.
Palmer Group began acquiring the institutions and integrating them into a unified school group in 1993. Three of them were founded in the 19th century and another in the 1920s.
Russell Palmer, chairman and CEO of Palmer Group, is the majority shareholder of AEC. J. William Brooks, AEC CEO, will remain with AEC. Following the closing of the sale, which is expected to take place this September, he will also become SVP of Education Management.
Education Management is among the largest providers of private, post-secondary education in North America. It owns and operates 42 campuses in 26 cities with a total enrollment of approximately 44,000 students.
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