Apprenticeships and adult education provider Interserve Learning and Employment (ILE) has been acquired in a management buyout, backed by SME fund Enact, Insider Media has reported.
The Sheffield-based company employs more than 300 people and caters to over 7,000 learners in sectors including childcare, health and social care, transport and business skills.
The investment by Enact, which is managed by Endless, is the fifth acquisition made from the £30 million dedicated SME fund raised in May last year.
Chris Cormack, a partner leading the Enact fund who has joined ILE’s board, said: “The acquisition of this Yorkshire-headquartered business enables the continued delivery of high-quality learning to apprentices across the UK and will have a significant role to support people and businesses in a post-Covid economy.”
ILE managing director Gregg Scott added: “We quickly built a rapport with Enact who shared our passion and pride in delivering quality learning and have ambitions to retain that quality ethos as we plan to grow the business.”
Enact was advised by the Tax Advisory Partnership, and by law firm Womble Bond Dickinson.
Date published: 6 October 2020