Itec Training Solutions Ltd.
Established more than two decades ago, The Centre for Strategy and Communication was a leading provider of business training courses throughout the UK.
The owner of The Centre, Jan Burnell, was looking to exit the business in order to retire and find time to focus on other personal commitments. The company had previously attracted two independent offers; however, the sale had fallen through on both occasions. Suffering from deal fatigue, Ms Burnell approached Avondale to take charge of the process, with a mandate to secure a successful and lucrative completion.
In light of the previous failures, Avondale recognized that identifying the correct buyer for the Centre – one that would stay the course – was crucial. The team worked hard to create a competitive market place. From there, careful vetting of the interested parties returned offers from four prospective acquirers.
The eventual buyer, Itec Training Solutions, was a Wales-based provider of work and life skills training, as well as apprenticeships and up-skilling services for businesses. The acquisition presented an opportunity to extend the company’s footprint to other regions within the UK. The sale was completed in less than nine months, with the final deal value exceeding Ms Burnell’s original expectations.