JHP Group (JHP), a Coventry, UK-based provider of vocational education, skills training and employability programmes, has been bought by its management team in a transaction backed by LDC.
Led by chief executive officer Jim Chambers, the management team has acquired a minority shareholding while LDC, has invested £30m for a significant majority stake.
A £26m package of senior debt was provided by Yorkshire Bank.
The new capital will enable the company to continue its organic growth strategy, particularly the increasing emphasis on welfare to work programmes.
Founded by Hugh Pitman in 1983, Coventry-based JHP operates a national network of 57 centres as well as delivering training in employees’ workplaces nationwide. The business services more than 3,000 clients, from small and medium sized companies to major organisations such as the Ministry of Defence, RBS Insurance, Royal & Sun Alliance and Barclays. The company employs over 1,000 employees.
The transaction was led by John Swarbrick, Alex Bowden and Tony Norwood of LDC. In conjunction the deal, John Swarbrick and Alex Bowden will join the JHP board.