Catalyst leads £40m learndirect deal
Birmingham-based Catalyst Corporate Finance has advised on the £40m takeover of learndirect.
LDC, the mid-market private equity arm of Lloyds Banking Group, acquired the Sheffield-based learning provider.
Catalyst acted as adviser to the learndirect management team.
LDC, which bought learndirect by acquiring its parent UfiLimited from the Ufi Charitable Trust (UCT), said the deal would would provide investment and backing to support the company's development.
Joanne Milner led the deal for LDC and will join the learndirect board with immediate effect.
This is LDC's eleventh deal so far this year, which brings the total amount invested in 2011 by LDC in UK growth businesses to £245m.
Jeremy Harrison, director at Catalyst Corporate Finance, said: "Having undertaken a number of transactions in the vocational skills training sector, we were delighted to have the opportunity to advise the management team on the buyout of learndirect.
"We share the excitement of the team who go forward with a business that can now compete commercially using its key assets of scale, brand, technology platform to improve people's basic skills and employment prospects."
