Personal opinion: company may have choosen CentOS over Ubuntu because it's based upon Red Hat Enterprise (company techs might be more familiar with supporting RHE and thus comfortable with CentOS).
Red Hat has a 'tradition' to be more conservative (not so quick to provide the 'latest and greatest') thus CentOS is also 'conservative'. Found that, for the most part, 'conservative' is related to 'stability'.
CentOS is already LTS.
Only one thing that is somewhat an annoyance ... when apps like Moodle have higher PHP requirements, CentOS users might have to use 3rd party repo or aquire rpm packages directly from the source initially ... MySQL is an example.
Bottom line ... either CentOS or Ubuntu can do. They are very similar and after one becomes familiar/comfortable with one, the other isn't that difficult (just have to remember where things are located).
'spirit of sharing', Ken