Apprenticeship training provider Progress to Excellence Group – which is part of Amin Amiri’s portfolio of industrial companies – has expanded by acquiring a pair of Liverpool counterparts, Insider can reveal.
Complete Training Solutions provides an extensive range of health and safety courses, including confined space, sea survival, rope access and fire safety, to a variety of clientele.
It has been bought alongside Innovative Alliance, whose courses are designed to support people in their desire to develop their skills and become economically active.
Progress to Excellence secured a structured five-year debt funding deal from Praesidian, a US based lender, to restructure its finances and complete the acquisitions, resulting in a doubling of underlying EBITDA to circa £4m per year.
Sandra Kirkham, chief executive of Progress to Excellence, said: “Since Amin Amiri invested in our then small company, under his and a2e’s guidance Progress to Excellence achieved a quick turnaround in performance achieving £1.8M EBITDA last year.
“The aforementioned transactions have added new expertise and revenue lines, further enhancing the group’s footprint in the UK’s training industry. We expect a more than doubling of group EBITDA in our next financial year.”
Amin Amiri, founder and chief executive of a2e, added: “Progress to Excellence under the commendable leadership of Sandra has been a star performer in our portfolio in the past two to three years.
“We are pleased that an innovative funding structure has allowed Progress to Excellence to implement the vision and strategy developed and has enabled the group to significantly enhance its competencies and shareholder value in a short space of time.”
Legal advice and DD was provided by Shoosmiths, Mazars and Dow Schofield Watts.