Under the proposed deal, PeopleCert will take over all of City & Guilds’ awarding, assessment and training businesses, including the City & Guilds Training, Gen2, Intertrain, ILM, and The Oxford Group brands.
The ELT company will also take ownership of City & Guilds’ headquarters in London, as well as its training and assessment site in Cumbria and its minority shareholdings in early-stage companies.
The transaction was financed through a combination of €150 million in funding from Eurobank and existing company cash reserves. Following this acquisition, PeopleCert will now focus on refinancing its capital structure.The deal is expected to complete by the end of this month.
CLGI chair Dame Ann Limb called the agreement a “landmark transaction” that “marks the start of another bold new era, securing, in a single move, CGLI’s s long term financial future at the same time as enabling significant investment in the commercial awarding and skills businesses”.
“In PeopleCert, the trustees have secured an organisation with a similar educational vision and values, current regulatory experience and approval in assessment and certification, underpinned by a strong track record of successful delivery in people and technology,” she added.
By investing in City & Guilds’ products, platforms and people, we’ll deliver even greater impact
Byron Nicolaides, PeopleCert
Byron Nicolaides, founder and CEO of PeopleCert, said the company was delighted to welcome City & Guilds to its portfolio “as we begin an exciting new chapter of growth and unlock even more potential together”.
“By investing in City & Guilds’ products, platforms and people, we’ll deliver even greater impact. We’re especially pleased to join forces with their talented employees and senior leadership team as we shape the future together,” he said.
Meanwhile, City & Guilds CEO Kirsty Donnelly said the acquisition represented a “defining moment” for the business, giving it the market access to scale in the UK.
“I am incredibly honoured to be leading the next phase of commercial growth personally as City & Guilds aims to triple its reach to meet the global demand for skills,” she said.
