Catalyst advises on £40m learndirect MBO

FINANCE firm Catalyst has advised in the £40m management buy-out of Ufi Ltd (learndirect), backed by Lloyds Development Capital.

Through the learndirect brand, launched in 2000, Ufi has helped more than three million people use the internet to gain skills and qualifications in areas such as maths, English and IT.

The training firm is a strategic provider of basic skills training to the Skills Funding Agency and delivers more than £120m of funded training each year. This is usually directed at people with few skills and qualifications in order to improve their employment prospects.

learndirect reaches these people by using a technology platform that gives learners the freedom to learn at any time, place and pace to release them of the restrictions of classroom-based training models.

The deal will provide investment and backing to support the development of the learndirect business, led by the chief executive Sarah Jones, and chaired by Ian Crabb.

“Catalyst was introduced to the management team during the early stages of a process to sell the business. Our appointment was a direct result of our experience of both advising management teams in the mid-market and our credentials in the vocational training sector,” said the firm.

Catalyst’s involvement was led by vocational training expert and director, Jeremy Harrison.

• Catalyst is co-sponsoring a fundraising dinner and auction this evening to raise funds for Birchfield Harriers athletes looking to be a part of the British team at next year’s Olympic Games.

The dinner, jointly sponsored with AGA Rangemaster, takes place at Villa Park. Nearly 200 guests, from professional firms and businesses in Birmingham will be joined by Olympians, past, present and future who will share their experiences.

he main auction item is a Green Jersey from the 2011 Tour de France, signed by world champion, Mark Cavendish.