From education to employment

Carter & Carter, the vocational training group announces new acquisitions

Carter & Carter Group has acquired Constant Browning Edmonds Limited (CBE Ltd), a work-based learning provider, for £16.5 million cash from its five shareholders.

Carter & Carter also announce this morning the acquisition of the training operation of the Nottingham Engineering Training Association Limited.

CBE Limited, which employs around 145 staff, is a leading provider of work based learning to the retail and business sector. The company holds LSC contracts across the country to deliver Train To Gain and apprenticeship programmes.

CBE Limited is a high quality provider having achieved a grade 2 in its recent inspection by the Adult Learning Inspectorate.

Nottingham Engineering Training Association Limited (“NETA”) employs 13 staff and primarily delivers apprenticeship training to learners who work for engineering companies in and around Nottingham. Their assets include a modern freehold engineering training facility. The business being acquired had gross assets of £0.9 million at 31 August 2006.

These acquisitions are expected to enhance earnings in the first full year of ownership.

Commenting on the acquisitions, Rodney Westhead, Chairman, said today: “I am delighted to announce these acquisitions which provide a furtherdemonstration of our stated strategy to focus on key sector areas which include engineering and retail. “

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