17 July 2018 – acquisition of the business of Learndirect Apprenticeships Limited
The company has completed the acquisition of LDA, the UK’s market-leading Apprenticeship Levy provider, from Learndirect Apprenticeships Limited for a nominal sum. Staffline will integrate LDA into PeoplePlus, its Skills and Training division. This acquisition will significantly increase PeoplePlus’ share of the Apprenticeship Levy market to around 10%. The combined business will be the leading adult skills and training provider in the UK, delivering apprenticeships, adult education, prison education and skills-based employability programmes. LDA works with many high-profile levy-paying companies, and the combined business will have around 5,000 apprentices currently on programme, with a strong pipeline of new apprentices. LDA has an existing blue-chip customer base of high profile brands in areas such as retail, financial services and the NHS. These customers will add complementary market sectors to PeoplePlus’s existing offering, and a broadened product proposition. The acquisition is funded from Staffline’s existing resources. The shares have rallied recently but with interim results due out next week we keep our BUY rating.