Founded in 1979, The Art Institute of Vancouver is one of 45 institutions that make up The Art Institutes system, which provide creative subjects such as design, fashion and culinary arts across North America.
It is currently a subsidiary of Education Management Corporation, a private post-secondary education operator based in Pittsburgh.
Acquisitions are “an important part of LCI’s strategy to become the world’s leading network of select private educational institutions”
The buyout will boost LCI’s presence on Canada’s west coast and bring its total number of institutions to 22 across five continents.
AIV and LaSalle College Vancouver, LCI’s existing postsecondary foothold in the city, offer courses in digital and media arts, VFX & game design, fashion, interior design and culinary arts to a combined 1,500 students.
LCI also owns a language school in Vancouver, Canadian as a Second Language Institute, which it acquired last year.
“Joining the LCI family provides AIV with support from respected private post-secondary institutions and further momentum for its progressive, industry-leading curricula,” commented AIV president Brian Parker.
The acquisition will give AIV students and graduates access to LCI’s student career services, including worldwide job postings, while faculty will have the opportunity to collaborate with others across the network.
“Acquiring leading private post-secondary educational institutions is an important part of LCI’s strategy to become the world’s leading network of select private educational institutions, recognised for innovation, efficiency and results,” commented Claude Marchand, CEO of LCI Education network.
“AIV will be joining a strong and stable Canadian organisation that is driven by the needs of students, providing enriched opportunities for learning and skill development, instruction by leaders in the Vancouver creative industries, and access to international career services.”
The deal is expected to be completed no later than January 31.