Zenos & Zenos Learning

Deal Summary

Catalyst acted for the owners of Zenos and Zenos Learning (Zenos), on the sale of the companies to AIM listed Melorio plc for up to £33 million.

Based in Oxfordshire, Zenos is the leading provider of government funded vocational training to the information and communication technology sector, delivering Advanced Apprenticeships to school leavers through their own Academies, and Advanced Apprenticeships and Level 3 NVQ qualifications to employees in the workplace.

What difference did we make?

Having previously advised on a number of deals in the education & training sector, we were appointed by the shareholders to perform a strategic review of their business and evaluate their options for exit.

One of the major findings was that the business was heavily reliant on the owner managers and we subsequently helped identify management succession candidates who were brought into the business.

Once the decision had been made to sell the business, Catalyst presented the business and its new management to potential buyers. Our knowledge and significant previous transactional experience in the training market identified Melorio plc as the most suitable buyer.

The greatest challenge on this transaction was the collapse in the financial markets during the final stages of completing the deal. Despite this, Melorio recognised that Zenos presented a transformational opportunity for them, and we played an important role in bringing the deal to a successful conclusion. In addition we provided significant support to Melorio, raising the debt required to successfully complete one of the few deals to happen in late 2008, at the same price committed to within the heads of agreement.