Acquisition projects charity into UK’s top 25 by turnover

Deal done

Shaw Trust, a £130m turnover national charity with offices in Bolton and Bury, has acquired fellow Prospects Group, an employee-owned provider of skills, education and care with revenue of £90m.

The deal brokered by North West advisers DTE Corporate Finance and Brabners propels Shaw Trust into the top 25 charities by turnover in the UK.

It is a national charity founded in the Wiltshire village of Shaw, providing employment opportunities, skills development training and health and well-being services across the UK.

This, coupled with the services provided by Prospects, means that the enlarged charity will now be able to help an even greater number of disadvantaged people at all stages of their life.

Shaw Trust’s chief executive Roy O’Shaughnessy said: “This marks a very special day on our journey to transform the lives of one million young people and adults each year by 2022.

“We deliver services for a range of government departments and local authorities, and as a charity we add value to every service we deliver by investing back into the communities we serve.

“Ourselves and Prospects Group deliver many complementary services and now, together, we can offer an even greater range of support to our customers.”

Nick Bell, chief executive of Prospects said: “Prospects is excited about joining the Shaw Trust Group.

“We have a very similar mission and values to Shaw Trust, and the merger of our organisations will enable us to create new opportunities and inspire more young people and adults a year to develop their potential.”

Partner Caroline Litchfield and senior associate Ruth Hargreaves from Brabners provided legal advice to Shaw Trust.

Litchfield said: “Shaw Trust is an outstanding charity that transforms people’s lives by supporting them into the world of work. By joining forces with Prospects Group, the new combined entity is in a stronger position to help even more disadvantaged people, right across the UK.

“At a time when the UK’s welfare environment is undergoing fundamental changes, Shaw Trust’s work is even more important than ever.”

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