Funders team up to back buyout of coaching firm

Grant Bowman, front left, has taken over at Coaching For Change

A business coaching organisation has undergone a management buyout (MBO), backed by £250,000 of funding from three organisations.

Chesterfield-based Coaching For Change also operates in Qatar and has ambitions to increase turnover by 50% this year.

The MBO was supported by UK Steel Enterprise (UKSE), HSBC and Finance For Enterprise (FFE).

Grant Bowman, the new managing director at Coaching For Change, said he was looking forward “to further developing the company as a world-class business improvement consultancy”.

He said: “Ultimately, our clients choose to outsource their business improvement coaching needs to Coaching For Change because they know that we will go the extra mile to ensure that operational efficiency transpires throughout their organisation, and I am excited to lead the organisation as it continues to excel in this thriving business arena.”

UKSE is a subsidiary of Tata Steel and backed the acquisition as well as providing investment for growth. HSBC’s funding totalled £110,000 while Finance For Enterprise provided a tailored Enterprise Loan package through the Northern Powerhouse Investment Fund (NPIF), backed by the British Business Bank.

Coaching For Change was set up in 2006 and provides individual and operational business coaching, mentoring and training, and works with organisations including Network Rail, Rolls Royce, the Saudi Government and BAE Systems.

Mike Gregg, investment manager at Finance For Enterprise, added: “It’s terrific to see how quickly Coaching For Change has grown and evolved since the management buy-out and they are on track to enjoy a very successful first year, resulting in a significant number of new jobs being created within the local economy.

“The work we have undertaken with Coaching For Change and our colleagues at UK Steel Enterprise and HSBC illustrates how lenders often work collaboratively to help entrepreneurs realise their potential by providing the funds needed to not only complete the management buy-out, but lay down the foundations for future growth.”

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