Corinthian Colleges Acquires 18 Schools

Corinthian Colleges Inc., owner of 18 private-career schools nationwide, has acquired 18 schools from Phillips Colleges Inc. in Gulfport, Miss., for $30 million.

The Phillips colleges now operated by Corinthian include Duffs Business Institute in Pittsburgh, the country’s oldest proprietary college, and Blair College in Colorado Springs, which marks its 100th anniversary next year. The other campuses acquired are in Florida, New York, Washington, Nevada, Utah, Oregon and Missouri.

Prudential Capital is providing a line of credit to help finance the acquisition.