Site Search
December 2018 edition

Not a subscriber?
To request a Two-Issue Free Trial email your details to:
The Assignment Report Events

Making a difference - Maximising learning outcomes and improving workflow in schools

14 February 2019, 13.45 to 17.45, Ironmonger's Hall, London

Confirmed panellists include: Steve Burnett, Managing Director, RM Education; Andrea Carr, Founder of Rising Stars; Paul Charman, Managing Director, FFT Education; Richard Marett, CEO, Whizz Education; Amanda Peck, Executive Director Marketing, Professional Group, McGraw-Hill Education; Josh Perry, Director, Assembly; Ian Rowe, Business Development Director, GCSEPod; and, Dan Sandhu, CEO, Sparx.

Paul Howells (CEO, Eteach Group), Julian Drinkall (CEO, AET) and Rupert Barclay (Managing Partner, Cairneagle)

First deal for Woodspeen Training

publication date: Jun 1, 2008
author/source: Ed Tranham

Woodspeen Training – the Plus market business in which ex-BPP CEO Charles Prior has a 22.3% stake – has completed its first acquisition in the UK vocational training sector. Woodspeen will pay up to a maximum of £2.762m for Futures Training Centres although the initial consideration is only £1.15m, comprising £650k cash, £100k convertible loan notes and 800,000 new shares at 50p per share.

Brighton-based Futures delivers computer-based vocational training courses to adults in the UK, almost exclusively under the government’s LearnDirect and Train to Gain programmes. These programmes represented 95% of the company’s revenues for the financial year ended 30 September 2007. Futures is currently negotiating the extension of its government-funded contracts which expire in August this year.

Woodspeen’s stated aim is to create a substantial UK vocational training business principally by acquiring existing businesses that provide government-sponsored and privately funded vocational training. Government funding of Train to Gain is expected to rise to over £1bn a year by 2010-11. The Futures acquisition will reduce Woodspeen’s recently raised cash pile of £2.75m.

Copyright Meissa Limited 2005-2018