Cardiff and Vale College acquires leading workplace training firm ACT in a deal that was structured by Gambit Corporate Finance which acted as lead adviser to ACT.
ACT will become a stand alone subsidiary of one of the UK's leading colleges with more than 30,000 students. One of Wales’ leading apprenticeship and skills training providers, ACT, has been acquired by Cardiff and Vale College (CAVC).
The deal, the value of which has not been disclosed, sees Cardiff-based firm ACT becoming a wholly-owned subsidiary of fast-expanding CAVC which is one of the top five colleges in the UK with a turnover of £75m and over 30,000 students.
The company will continue to trade as ACT.
Chief executive of CAVC, Mike James, said: “Public funding across the board is continually reducing, and with Brexit and the potential Apprenticeship Levy comes further uncertainly.
“The Cardiff Capital City Region is one of the fastest growing areas in the UK, with vibrant and ambitious businesses, two enterprise zones and impressive inward investment plans. The region requires a strong, informed and responsive skills offer to support business growth and the economy of our region.
"Between CAVC and ACT we are already working with thousands of businesses and together we will drive this forward – furthering our support for business, sharing data, collaboratively planning for future needs and looking for skills gaps that need to be addressed.”
Managing director of ACT, Andrew Cooksley, who set up the firm with his wife Caroline, said: “We have a long-standing working relationship with Cardiff and Vale College that has seen us work collaboratively to develop and progress learners.
Our provision is complementary and together we offer learning pathways across all Welsh Government sector skills areas from entry to higher level.
“There are big challenges across our region which need focus and investment – ensuring there are enough of the right opportunities for young people and adults to develop skills and become employable.
“By growing and widening these opportunities we make it harder for people to step out of education, training and work.
Together we will build on our strong shared links with schools, communities and employers and further develop programmes and progression routes that lead people onto sustainable careers. At ACT we are looking forward to this next exciting phase when we can look at how we best tackle these future challenges together and support our capital region.”
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