Pinsent Masons advises LDC on £40 million acquisition of Learndirect
06 Oct 2011 | 01:21 pm |
International law firm Pinsent Masons has advised mid-market private equity firm Lloyds TSB Development Capital (part of the Lloyds Banking Group) on the acquisition of online learning provider Learndirect in a £40 million deal.
Sheffield based LDC was acquired from Ufi Charitable Trust, a registered charity set up in 1998, to use new technology to transform the delivery of learning and skills. Since Learndirect launched in 2000 it has helped over three million people and thousands of businesses use the internet to gain qualifications in subjects such as maths, English, and IT.
Ian Crabb, former chief executive of Quadriga Worldwide, a wifi and wired products supplier, and a former member of the senior management team at private equity firm Permira, has been brought in as chairman of Ufi to assist with Learndirect growth.
The Pinsent Masons team advising LDC was led by corporate partner Peter Wood assisted by senior associate Michelle Kershaw and Amy Wright (corporate) and a team of specialists in commercial, IP, employment, pensions and insurance law. LDC was also advised by Deloitte.
Peter Wood commented: "We were pleased to advise LDC on this exciting deal which positions Learndirect to expand its services and compete more effectively in the wider marketplace by accessing a greater pool of potential customers."
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