Engineering firm sold to global group in £17m deal

Lorien Engineering Solutions has been sold by its parent company, Learning Technologies Group (LTG), to a global counterpart in a deal worth almost £17m.

Burton-based Lorien has been snapped up by Norwegian-headquartered NIRAS Group, a global engineering consultancy. The deal is expected to complete in January.

Lorien’s management team will continue to be part of the leadership team in the company under its new ownership.

The sale of Lorien completes LTG’s exit from two non-core assets within GP Strategies that LTG had identified for disposal. This follows LTG’s closure of a UK apprenticeships business in January 2023.

For the full year ended 31 December 2023, Lorien is expected to generate £16.8m revenue and £3.2m EBIT.

Jonathan Satchell, CEO of Learning Technologies Group, said: “We are pleased that Lorien has found an excellent home in NIRAS which has the strategy and team to develop Lorien’s offering. Alongside the carve-out of contracts from TTi, these transactions are further important steps in purifying GP Strategies’ focus on its core mission of corporate learning and talent development solutions.”