NET was founded in 1982 and operates under two divisions: New England Tech and the Florida Culinary Institute. The main campus is at 2410 Metrocentre Blvd. The Mangonia Park campus, about four miles away, was acquired later. Current enrollment exceeds 1,200, and the school generated approximately $19 million in revenues in 2005. In addition to culinary arts, NET offers degrees in automotive technology, skilled trades, health sciences, business and IT and cosmetology.

This marks Lincoln's first foray into Florida. It will rename NET Lincoln College of Technology, which represents the beginning of a branding initiative under which the company will "increase recognition of its schools by leveraging the strength of the Lincoln name," according to David Carney, chairman and CEO. Lincoln now operates 35 post-secondary campuses in 16 states under eight different brands.

"With this acquisition," Carney says, "we are both extending out geographic footprint into Florida and bringing to one of the nation's fastest growing regions our program offerings, which complement those currently offered by NET." The acquisition is expected to close in the second quarter of this year. Lincoln expects to complete its re-branding program by year-end 2007.