Winning Pitch for CBA
BUSINESS consultancy Winning Pitch has bought a Yorkshire-based rival in its first deal since it floated on the PLUS market.
The company has bought Sheffield-based Creative Business Achievements (CBA), which is a training and business development consultancy.
Manchester firm Winning Pitch, which floated on the junior PLUS stock market in December, provides consultancy services to companies and individuals mainly through the Business Link service.
It has bought CBA for £115,000.
The £100,000-turnover business was founded in 1996 by Ian Blamires and Jane Padget, who will both stay with the business following the acquisition.
CBA provides consulting services through the Business Link High Growth support programmes.
Winning Pitch operates mainly across the North West but has recently won contracts in Wales and South Yorkshire. It had turnover in the nine months to September 30 of £435,000 but has a future order book of more than £1.5m.
It is paying for the acquisition through a combination of its own cash and by issuing 130,000 shares at 50p each. It is also about to raise £3m of equity to fund further acquisitions and growth.
John Leach, founder and chief executive of Winning Pitch, said: “The acquisition of CBA advances Winning Pitch's growth strategy by extending our geographic
and vertical market presence. CBA has a strong reputation for high quality and innovation, and provides Winning Pitch with an established, profitable and sizeable business in Yorkshire, and a platform for growth in the region and beyond. The acquisition is a good strategic fit and will be earnings enhancing in the first full year of ownership.”
Jane Padget, managing director of CBA said: “The two businesses combined will benefit from increased scale, market presence and synergies and will be a powerful force in delivering High Growth business support in the North of England. We share the passion and values of Winning Pitch, our work has to make a difference and create sustainable and connected communities of entrepreneurs.”
