Tulsa Welding School purchased, plans to expand

[sgrizzle]

http://www.tulsaworld.com/business/article.aspx?articleID=20081024_48_E3_Aninst478695

quote:
Firm buys Tulsa Welding School

by: KYLE ARNOLD World Staff Writer
10/24/2008  12:00 AM

A private equity firm announced Thursday that it has purchased Tulsa Welding School, saying it plans to add staff and expand enrollment.

Buffalo, N.Y.-based Summer Street Capital Partners LLC, which purchased the school last month, hopes to add at least 180 students and 11 employees at the Tulsa campus as well as expand a facility in Jacksonville, Fla.

"There's a huge demand for welders, and it's going to grow," said Mike McQueeney, a managing partner for Summer Street.

Summer Street did not disclose the terms of the deal. Owners Michael Harter and Roger Hess sold the company and have decided to retire, according to Summer Street.

The acquisition marks the company's first step in building a portfolio of for-profit education firms, McQueeney said. The school could eventually expand with campuses in nearby communities, and a West Coast is a possibility.

Tulsa Welding School is Summer Street's first purchase in the for-profit education field. It also owns companies in the health care and waste management sectors, and in "niche" manufacturing.

Summer Street doesn't plan to increase the welding school's profitability and quickly sell, as is often the case with private equity firms, McQueeney said.

With 600 students in Tulsa and 350 in Florida, the school claims to be the largest accredited welding school in the country.

Tulsa Welding School will remain at its facility near the University of Tulsa, but it would likely need to expand into another location, said Debbie Burke, the school's vice president and executive director.

She said the acquisition gives the school more resources to grow.

"We're at full capacity now and (Summer Street) has already allowed us to hire four more office staff," said Burke, who has worked at the school for 10 years.

The school has plans to immediately add seven teachers, she said.

Tulsa Welding School has seen an increase in demand lately, said Larry Brown, who is running the company that will oversee the school on behalf of Summer Street.

The company eventually hopes to double the size of the school's space and students, Brown said.

Summer Street has high hopes for the company, based on expected demand for welders for the road construction, energy infrastructure and railroad industries.

Some estimates predict a shortage of about 200,000 welders in 2012 as baby boomers retire, Brown said.

Tulsa Welding School's standard program costs students about $12,500 for seven months of training. School officials say the average graduate makes about $56,000 a year.

[tulsapoolplyr88]

The deal actually went through several months ago.  I'm not sure why it took so long to become public.

[cannon_fodder]

Tulsa Welding School has an excellent reputation nationwide.  A friend of mine (who was in town for Oktoberfest) is an engineer for a methane production company and commented when we saw a billboard for them that his company hires Tulsa Welding grads whenever they can afford them.  To me, that's a glowing endorsement - they are desired and worth a premium.

[Wilbur]

Is the school in Florida also called 'Tulsa Welding School' or something else?

[sauerkraut]

I bet that school is busy. With the demand for Welders in Tulsa that seems like it will be a good career move. A good welder in Tulsa can just about write their own paycheck, the newspaper job section is begging for welders...[B)]

[tulsapoolplyr88]

quote:Originally posted by Wilbur

Is the school in Florida also called 'Tulsa Welding School' or something else?

Yes sir.....it's also Tulsa Welding School

[inteller]

Tulsa Welding school is to welding what Wyotech is to automotive mechanics.  It is true that if you graduate from there you are sorta like graduating from Harvard for welders.