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Education Management Corp., which three years ago went private in a sale to private equity investors, plans to re-enter the public markets by selling 20 million shares of stock in a bid to raise approximately $350 million, the higher education company announced Tuesday. Education Management, which operates Argosy University and the Art Institutes, among other career-oriented colleges, was purchased in 2006 by two private equity firms for $3.4 billion, one of numerous for-profit college entities making such a move. Education Management has significant debt, and the initial public offering announced this week is seen as a way to retire some of that debt and tap into a market for higher education companies that is heating up.
