LG back to school in Adult Learning sale
December 2006
In a deal negotiated by Livingstone Guarantee, Sheffield Trainers Ltd (“STL”) a leading regional provider of apprenticeship and adult learning has been acquired by private equity investor Sovereign Capital for an undisclosed sum.Principal STL shareholders Adrian Holmes, Managing Director and Michelle Rigby, Operations Director, appointed LG to assess their various strategic options having received an unsolicited approach for the business.
Livingstone Guarantee introduced the opportunity to Sovereign Capital, who had already invested in the sector, and negotiated a deal ensuring Adrian and Michelle retain a stake in the business and continue to manage the business on a day-to-day basis. Established in Sheffield and with a regional network of offices serving Nottinghamshire, Derbyshire and South Yorkshire, STL employs over 170 people. The investment by Sovereign Capital will provide access to new capital to enable STL to make the leap from a regional to national training provider.
Alex Sheffield comments: “Sheffield Trainers will now be able to embark on a significant period of expansion that will produce a network of training centres across the U.K. offering training and Government apprenticeships.”
Earlier in 2006, LG negotiated the £10 million sale of Hotel and Catering Training Company (HCTC), the largest private sector provider of Government funded vocational training in the hospitality and catering industries.
Alex pointed out that the Sovereign Capital investment came at a time of considerable consolidation within the sector - a trend he did not see diminishing. “There are many more successful companies like STL and HCTC across the country and a substantial number of them could be candidates for change.”
Simon Cope-Thompson, partner
Tel: 020 7484 4706
Email: simonct@livguarantee.com
Alex Sheffield, director
Tel: 020 7484 4734
Email: alex.sheffield@livguarantee.com
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