Sterling Partners announced Tuesday it has acquired Tulsa's Spartan College of Aeronautics. Sterling Partners is a private equity firm based in Chicago.
Spartan has been in Tulsa since its founding by J. W. Skelly in 1928.
According to its website Spartan has graduated more than 90,000 aircraft technicians and pilots since its founding.
In a news release, Sterling stated it purchased the company from majority owners John A. Walker, Blaine Walker and Justin Walker.
"We believe Spartan is a clear leader in the aviation and NDT higher education space, with a decades-long reputation for high-quality education and a very strong job placement record. It exemplifies Sterling Partners' focus on investing in education institutions that provide excellent outcomes for their students," said Jason Rosenberg, a Sterling Partners principal.
Spartan president and CEO Jeremy Gibson will maintain an ownership stake in the school.
"Although I was approached by several firms, we chose Sterling Partners because of its deep experience in building top-quality institutions," said Jeremy Gibson. "Sterling will help us develop Spartan's infrastructure more quickly and help us expand to new regions, while continuing to contribute to the increased global demand for aviation and nondestructive testing technicians."
Terms of the transaction were not disclosed.