HIGH POINT – Perdoceo Education has agreed to acquire South University in a transaction that includes the university’s High Point campus and could close as early as April 2027.
Perdoceo entered a definitive agreement Sept. 14 to buy 100% of South University Savannah LLC, the entity that operates South University. The transaction remains subject to regulatory, accreditor and other closing approvals.
The agreement calls for $150 million in initial cash consideration, subject to customary balance-sheet adjustments. It also includes $18 million in deferred installments over 24 months and up to $56 million in additional earn-out payments tied to earnings thresholds for 2027 through 2029.
South University operates 11 campus locations and an online program. Its High Point campus at 4050 Premier Drive offers nursing and allied health programs and is the university’s only North Carolina location.
South reported unaudited 2025 revenue of about $291 million, adjusted operating income of about $34 million and approximately 10,500 students. The university currently operates as a nonprofit institution and would become a for-profit institution after the acquisition closes.
Perdoceo said it plans to invest in clinical placement capacity, faculty and program leadership, simulation and instructional technology, and licensure-exam preparation. Perdoceo’s existing institutions include Colorado Technical University, the American InterContinental University System and the University of St. Augustine for Health Sciences.