Member Article

Sheffield training firm esg acquired by Interserve for £25 million

Sheffield based vocational training provider Employment & Skills Group (esg) has been acquired by Interserve, a Reading-based support services and construction group, from Ares Capital for a consideration of £25 million.

esg is reportedly one of the UK’s largest private sector providers of training and employment services for Government and employers and also provides vocational training in three new Further Education colleges in Saudi Arabia under the Kingdom’s Colleges of Excellence programme.

With approximately 700 employees, esg supports over 65,000 people a year into work or training.

The acquisition furthers Interserve’s strategic development and will provide a strengthened position in the £4.6 billion UK skills and training market and a platform to extend services into the Kingdom of Saudi Arabia and other Middle East territories.

The transaction is being funded from within Interserve’s existing debt facilities and is expected to be accretive in 2015.

Adrian Ringrose, CEO of Interserve said: “We are pleased to have furthered our strategy by acquiring one of the UK’s leading skills and welfare providers, expanding our scale and breadth in these critical front-line public services markets, both in the UK and in Saudi Arabia and are delighted to welcome some 700 new colleagues to the Interserve Group.”

This was posted in Bdaily's Members' News section by Clare Burnett .