The Utah College of Massage Therapy, with seven campuses in Utah, Arizona, Colorado and Nevada, is being sold to Steiner Leisure, a Nassau, Bahamas-based company whose operations include running spas and salons on 120 cruise ships.
Steiner also markets more than 250 beauty products and operates 50 resort spas around the world.
The company, which generated revenue of $296 million and net income of $29.6 million for the first nine months of 2005, said it will pay $28 million for the Utah business.
Steiner plans to operate 14 massage training schools in eight states and be a primary provider of massage therapists for the growing spa market.
'We'll be able to train approximately 3,000 students (a year),' said Stephen Lazarus, a Steiner senior vice president.
Lazarus said the combination of the Utah school's massage therapy programs and Steiner's specialized programs in skin care and other areas will provide an additional opportunity to increase student enrollments.
The Las Vegas Sun respiorts that Utah College's founder Norman Cohn declined to comment on the transaction.
The deal, which was announced Friday, is expected to close in the second quarter of 2006, and Cohn is to have a position on Steiner's management team.
Steiner also markets more than 250 beauty products and operates 50 resort spas around the world.
The company, which generated revenue of $296 million and net income of $29.6 million for the first nine months of 2005, said it will pay $28 million for the Utah business.
Steiner plans to operate 14 massage training schools in eight states and be a primary provider of massage therapists for the growing spa market.
'We'll be able to train approximately 3,000 students (a year),' said Stephen Lazarus, a Steiner senior vice president.
Lazarus said the combination of the Utah school's massage therapy programs and Steiner's specialized programs in skin care and other areas will provide an additional opportunity to increase student enrollments.
The Las Vegas Sun respiorts that Utah College's founder Norman Cohn declined to comment on the transaction.
The deal, which was announced Friday, is expected to close in the second quarter of 2006, and Cohn is to have a position on Steiner's management team.