Butler University in Indianapolis has announced a $25 million gift from local businessman Andre B. Lacy and his wife, Julia, to its College of Business.

In recognition of the largest gift in university history from an individual or family, the college has been renamed the Andre B. Lacy School of Business. Lacy, board chair of Lacy Diversified Industries, has worked with the university for more than a decade, serving on the Butler Business Consulting Group Advisory Panel and endowing a student scholarship at the college; he will serve as senior advisor to the newly renamed school.

Priority areas for the school include building on its experiential approach to teaching and learning and expanding its focus on closely held businesses, which Lacy sees as key strengths that differentiate Butler's business program from others. Butler business students create a business plan their first year, launch a company as sophomores, and complete at least two internships with local businesses before graduation.

"The advisor role provides that opportunity to share, mentor, and help students see that prospering an entity is bigger than any one individual — and it gives back exponentially to the communities where they live," said Lacy. "That's a desire we see in this generation — to be part of something bigger than themselves and to be on the ground floor of establishing something that has meaning and value."