North East dealmakers have enabled the creation of one of the region’s largest apprenticeship providers through the acquisition of the training arm of the North East England Chamber of Commerce.
NECC Training has been taken over by Middlesbrough College, which brings together two leading regional providers in the development of skills and training.
Collectively, NECC Training and Middlesbrough College already deliver around 2,000 apprenticeships each year, providing courses in areas such as engineering, professional services, dental nursing and the technical industries.
But through the creation of a combined training provider, new services including higher apprenticeships, traineeships, bespoke workforce solutions and grant support for businesses will be introduced.
The deal, for an undisclosed sum, was overseen by Newcastle law firm Sintons and chartered accountant and business advisor Tait Walker.
James Ramsbotham, chief executive of the North East England Chamber of Commerce, said: “The Chamber campaigns strongly for improvements in the delivery of skills for North East businesses, which is a key focus of our members.
“The decision to sell NECC Training was not taken lightly, but our board agrees this move offers the best possible future for both our core membership business and NECC Training.
“In Middlesbrough College, The Chamber is confident that we have found a training provider that shares our commitment to the North East business community and who will provide the infrastructure and support needed to ensure this business is fit for purpose in the years ahead.”
Adrian Dye, Partner in the Company and Commercial team at Sintons, handled the legal aspects of the transaction.
“Both the Chamber and Middlesbrough College are highly respected training providers in their own right, so the combination of their resources through this acquisition is a very positive move for the future of apprenticeship provision in the North East,” he said.
“We are very pleased to have acted for the North East England Chamber of Commerce, our long-standing client, in this transaction.”
Chris McCourt, Corporate Finance Associate Partner at Tait Walker, said: “It was a pleasure to be able to help the Chamber deliver their strategic objective to exit their Training business.
“This deal represents a great opportunity for staff and learners to access more opportunities as part of a bigger organisation. The Government has ambitious targets around growth of apprenticeships and I expect further consolidation in the sector with deals like this.”