PHOENIX, April 28, 2021 /PRNewswire/ -- Universal Technical Institute Inc. (NYSE: UTI), the nation's leading provider of transportation technician training, plans to expand its Florida footprint in 2022 with a new campus in the Miami metropolitan area. It will be UTI's 14th campus nationwide and second in Florida. UTI began serving students in Orlando, Florida through the Motorcycle Mechanics Institute in 1986, and later expanded its offerings to include marine, automotive and diesel.
UTI has leased a facility in Miramar, which will serve students and employers locally and throughout the region. The approximately 100,000 square foot campus will feature an innovative and efficient use of space in support of UTI's student focused blended learning curriculum, including both digital and hands-on training elements.
UTI anticipates offering programs in high demand fields including Automotive, Diesel and Welding Technology with capacity for additional programs to be added in the future. The company is focusing on opening the new campus in the fourth quarter of fiscal 2022, subject to obtaining necessary regulatory approvals and completion of the campus build-out.
"Florida is an important market for us and for our employer partners, and we are excited to be expanding there," said Jerome Grant, chief executive officer of UTI. "For over 30 years, UTI has supported students at our Orlando campus in graduating with the skills employers want so they can be employed in good jobs. A Miami area campus will offer a convenient solution for South Florida students to train while living and working at home. The Miami metropolitan area is a market where our proven evaluation criteria show strong prospective student interest in our programs and employer demand for skilled technicians."
Florida is one of two states where UTI is planning to expand in fiscal 2022. UTI previously announced its plans to open a third Texas campus, in Austin, during the second quarter of fiscal 2022. The new campuses will enable students to train close to home in markets with strong student demand for training and industry demand for trained technicians.
UTI has a proven model for launching new campuses, which contribute incremental revenue growth and positive adjusted EBITDA in their first full year of operation. With the anticipated efficiencies from a blended learning education model and plans for greater campus utilization, the company expects the economic returns at the new campuses to be even more favorable than for its traditional metro campuses.
The two new campuses are part of UTI's growth and diversification strategy, which involves both the development of more efficient, commuter-friendly campuses in high-demand markets—and a broadened array of skilled trade education offerings. As part of the latter, UTI announced last month a definitive agreement to acquire the MIAT College of Technology, which will allow UTI to expand program offerings at campuses across the country into fields where demand for trained talent is growing and directly aligned with industry needs in the areas of aviation maintenance, energy technology, wind power, robotics and automation.
For more information on UTI's growth and diversification strategy, see the most recent presentation on its investor relations website at https://investor.uti.edu/image/Growth_Diversification_Strategy_Update.pdf.
Social Media Disclosure
Universal Technical Institute (UTI) uses its websites (https://www.uti.edu/ and https://investor.uti.edu) and LinkedIn page (https://www.linkedin.com/school/universal-technical-institute/) as channels of distribution of information about its programs, its planned financial and other announcements, its attendance at upcoming investor and industry conferences, and other matters. Such information may be deemed material information, and UTI may use these channels to comply with its disclosure obligations under Regulation FD. Therefore, investors should monitor the company's website and its social media accounts in addition to following the company's press releases, SEC filings, public conference calls, and webcasts.
About Universal Technical Institute, Inc.
With more than 220,000 graduates in its 55-year history, Universal Technical Institute, Inc. (NYSE: UTI) is the nation's leading provider of technical training for automotive, diesel, collision repair, motorcycle and marine technicians, and offers welding technology and computer numerical control (CNC) machining programs. The company has built partnerships with industry leaders, outfits its state-of-the-industry facilities with current technology, and delivers training that is aligned with employer needs. Through its network of 12 campuses nationwide, UTI offers post-secondary programs under the banner of several well-known brands, including Universal Technical Institute (UTI), Motorcycle Mechanics Institute and Marine Mechanics Institute (MMI) and NASCAR Technical Institute (NASCAR Tech). The company is headquartered in Phoenix, Arizona.
For more information, visit www.uti.edu. Like UTI on www.facebook.com/UTI or follow UTI on Twitter @UTITweet, @MMITweet, and @NASCARTechUTI.
Company Contact:
Troy Anderson
Chief Financial Officer
Universal Technical Institute, Inc.
(623) 445-9365
troyanderson@uti.edu
Investor Relations Contact:
Robert Winters or Wyatt Turk
Alpha IR Group
(312) 445-2870
UTI@alpha-ir.com
Media Contact:
Jody Kent
Vice President, Communications and Public Affairs
Universal Technical Institute
(623) 445-0872
jkent@uti.edu
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SOURCE Universal Technical Institute, Inc.
