Broker Newswire
  • Home
  • Latest News
  • Investing
    • Acquisitions
    • Broker Related
    • Online Trading
    • Cryptocurrencies
    • Stocks
  • Markets
    • Earnings
    • OTC Markets
    • Penny Stocks
  • Personal Finance
    • Saving money
    • Retirement
  • Economy
  • Tech
    • Enterprise
    • Internet
SUBSCRIBE
No Result
View All Result
  • Home
  • Latest News
  • Investing
    • Acquisitions
    • Broker Related
    • Online Trading
    • Cryptocurrencies
    • Stocks
  • Markets
    • Earnings
    • OTC Markets
    • Penny Stocks
  • Personal Finance
    • Saving money
    • Retirement
  • Economy
  • Tech
    • Enterprise
    • Internet
No Result
View All Result
Broker Newswire
No Result
View All Result
Home Investing Acquisitions

GEO Group Closes Acquisition Of Community Education Centers

by Jay Helton
April 6, 2017
1 min read
0
geo group cec acquisition
Share on FacebookShare on Twitter

On April the 6th, the prison oriented real estate investment trust, The GEO Group (NYSE: GEO), announced the closing of its acquisition of Community Education Centers. CEC is a leading provider of rehabilitative services. The company offers their services in reentry, as well as in prison. Community Education Centers offers management services to county, state and federal correctional and detention facilities. GEO acquired the company for $360 million in an all cash transaction. CEC will be integrated into GEO’s existing business structure.

CEC was founded in 1996 and now owns and/or manages more than 12,000 beds throughout the nation. Of those 12,000 beds, a little over 7,000 are community reentry beds. CEC offers evidence-based rehabilitation programs to more than 30 government run facilities. Revenue generated by Community Education Centers mainly derives from contracts with statement governments with a smaller quantity coming from arrangements with local jurisdictions.

After the acquisition, GEO will now own and/or manage 142 facilities for a total of 99,000 beds. Of those beds, more than 10,000 are community reentry beds. The company also has a workforce of approximately 23,500 employees. GEO expects the acquisition to increase their annualized revenues on average by $250 million. Additional details about the CEC acquisition can be found by visiting GEO’s latest press release.

RELATED STORIES

Volkswagen must pay damages

Volkswagen must pay damages to buyers of manipulated diesel cars

May 25, 2020
Future Cloud Banking and Fintech

Future Cloud Predictions for Banking and Fintech Sector

April 23, 2020
Tags: CECcommunity education centersGEOGEO Group
Create your Web Presence with Namecheap

Recent Posts

  • Bitcoin and crypto spending is allowed by PayPal Now
  • The event in the live stream: Apple releases 5G-capable iPhone – Business
  • Volkswagen thriller: An unpopular supplier, audio recordings and a dead man
  • Tencent and WeChat also affected: Why Trump’s TikTok ban could harm Silicon Valley
  • Hacker attack on Twitter: “Group of young people” is supposed to be behind the attack on the social media platform

Category

  • Acquisitions
  • Broker Related
  • Earnings Reports
  • Economy
  • Enterprise
  • General
  • Internet
  • Investing
  • IPO News
  • Latest News
  • Layoffs
  • Markets
  • Online Trading
  • Opinion
  • OTC Markets
  • Penny Stocks
  • Personal Finance
  • Retirement
  • Saving money
  • Stocks
  • Technology

About Us

Broker Newswire (BN) is an exciting new online publication, which targets finances, brokers, mortgage and markets. BN, which is the nation’s leading provider of real estate, finance and market news and analysis.

  • About
  • Advertise
  • Privacy & Policy
  • Feedback

© 2021 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • Home
  • Latest News
  • Investing
    • Acquisitions
    • Broker Related
    • Cryptocurrencies
    • Online Trading
    • Stocks
  • Markets
    • Earnings Reports
    • OTC Markets
    • Penny Stocks
  • Personal Finance
    • Retirement
    • Saving money
  • Economy
  • Tech
    • Enterprise
    • Internet
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.