ASSA Training & Learning

Deal Summary

Catalyst advised the shareholders of ASSA Training & Learning (ASSA), a management buy-out backed by ISIS Equity Partners, on the sale of the business to Carter & Carter plc.

Based in Tyne & Wear, ASSA is a leading provider of a range of adult vocational training and learning services for the vehicle manufacturing, transport and logistics, food & drink and aerospace sectors.

The majority of ASSA's training is government funded and based around four key programmes: Learndirect where the company has 20 centres across the UK; National Vocational Qualifications; Apprenticeships; and bespoke commercial training solutions.

What difference did we make?

In 2003 Catalyst advised on the management buy-out of ASSA which was backed by ISIS Equity Partners and Barclays Bank. Post transaction we stayed close to the business and advised the shareholders on preparing the company for its ultimate exit.

One year ahead of schedule, the business received an unsolicited offer from Carter & Carter, an aggressive market consolidator, who wanted ASSA as a platform for growth in new areas of the training market.

Our initial role was to maximise the consideration from the most likely acquirer of the business without using an auction process which would have only irritated the buyer.

Once a deal was agreed our principal role was to manage the different objectives of ISIS and the management shareholders in a sale process and project manage a Class 1 transaction for the acquirer.