Universal Technical Institute
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| Private, For-profit | |
| Traded as | : UTI |
| Industry | Education |
| Founded | 1965 |
| Headquarters | Scottsdale, Arizona |
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Area served
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North America |
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Key people
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Kim McWaters CEO |
| Website | www.uti.edu |
Universal Technical Institute, Inc. (UTI) is a for-profit nationwide provider of technical education training for students seeking careers in entry level automotive, diesel, collision repair, motorcycle and marine technicians.
Through a campus-based school system, the school offers specialized technical education programs under the banner of several brands, including Universal Technical Institute (UTI), Motorcycle Mechanics Institute and Marine Mechanics Institute (MMI) and NASCAR Technical Institute (NTI).
As of June 30, 2016, UTI had more than 10,000 students.
Universal Technical Institute was founded in 1965. UTI expanded its programs with additional curricula and opened new campuses, growing internally and through acquisitions. To address the needs of corporate clients, UTI started providing continuing education and training for technicians in 1980. In 1983, UTI opened a campus in Houston, Texas. In 1988 UT opened their Glendale Heights, Illinois campus. In 1998, it opened a campus in Rancho Cucamonga, California.
According to SEC documents, UTI worked with original equipment manufacturers (OEMs) in the automotive, diesel, motorcycle and marine industries. The schools were a primary provider of manufacturer-based training programs where they provided technician training programs using the OEMs equipment and vehicles. These organizations included Audi of America; American Honda Motor Co., Inc.; BMW of North America, LLC; Ford Motor Co.; International Truck and Engine Corp.; Jaguar Cars, Inc.; Mercedes-Benz USA, LLC; Mercury Marine; Porsche Cars of North America, Inc.; Volkswagen of America, Inc.; and Volvo Cars of North America, Inc.
In January 1998, UTI acquired Clinton Harley Corporation and Clinton Education Group, Inc. for $26.3 million. Motorcycle Mechanics Institute and Marine Mechanics Institute (MMI) were operating divisions of Clinton Harley Corporation.
In June 1998, UTI acquired National Technology Transfer, Inc. (NTT) and Performance Training Associates (PTA) NTT provided intensive training seminars to technicians in sectors similar to the sectors that we serve. PTA organized lecture training seminars in markets similar to NTT. The acquisition of NTT and PTA was completed for approximately $50.2 million. The NTT business was discontinued at a loss of $42.9 million. At the time of its Initial Public Offering, UTI carried a debt load of $57.3 million.
At its peak in 2011, UTI had more than 18,000 students. Enrollment has been declining since then.
The 2012 Harkin Commission noted that: "Compared to public colleges offering the same programs, the price of tuition is significantly higher at UTI....The same Certificate costs almost 20 times more at UTI than it does at the public college." UTI's default rate, however, was relatively low for a for-profit college, fluctuating from 12% to 16%.
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