Tom Gray from Acton’s Corporate team, working with corporate finance specialists from the Nottingham office of RSM Tenon led by Graeme Gladstone, have advised Chesterfield College on the purchase of private training provider Training Services 2000 Ltd.
TS2000, which has offices and a training centre in Derby, is a Grade 1 OFSTED rated provider of apprenticeships and other qualifications mostly in the engineering, manufacturing, business administration, customer service and IT sectors. TS2000 has worked closely with highly respected companies for a number of years.
Actons, working with the specialist education team at the Nottingham office of RSM Tenon advised Chesterfield College on the deal – which is the college’s first acquisition of a private training provider.
Tom Gray from Actons said: “We have completed a number of sizeable corporate transactions for further education (FE) institutions in the past few years. Actons are delighted to have supported Chesterfield in the acquisition of TS2000.
The changing landscape of post-16 education and training, together with increased flexibility for colleges, makes it more important for institutions to seek new strategic opportunities.
Our clients increasingly recognise the importance of obtaining the best advice from specialists in the sector in this endeavour.”
Trevor Clay, the college’s principal and chief executive, led the deal. He said: “We are very excited by the acquisition of TS2000 which has an excellent reputation in its sector. The deal allows the college to extend its geographical reach into the key Derby market and extend the range of subjects available in our curriculum.”
Graeme Gladstone from RSM Tenon corporate finance also advised the college. He said: “It was clear that Chesterfield saw the cultural and geographic fit of TS2000. We are delighted to have seen this through from start to finish and wish the college and TS2000 every success as they move forward together.”
TS2000 was founded in 2000 by Chris and Barbara Patrick, John Ollerenshaw and Nicki Clarke. Jim Glassbrook joined as business development manager in 2005 before buying John’s shares when he retired in 2007.
In the 12 years since the company started training, it has overseen steady growth in sales while maintaining a strong commitment to providing the best possible outcomes for learners.
Chris, Barbara and Jim will leave the business after a short handover period. Nicki Clarke will remain with TS2000. She said: “We are very pleased to be passing on the business to Chesterfield College as we know it shares our commitment to serving the Derbyshire business community and putting learners at the heart of what they do. I look forward to working with the college to continue the success of TS2000 as it looks to develop relationships with new companies and learners”.
The deal was brought to market by Mark Selby, corporate finance director with accountancy firm Baldwins who was with Ashgates when the deal commenced.
Mark said: “We were excited by the prospect of selling a company with such a good reputation and spoke to several FE colleges and private training providers, a number of which made credible offers. We decided to go with Chesterfield College as we recognised its genuine intent and commitment to doing the deal. We’re very pleased the shareholders have realised their efforts in creating such a fantastic company.”
