Yorkshire-based SME investor Enact, which is managed by Leeds-based private equity firm Endless LLP, has confirmed the sale of Realise Training Group for an undisclosed sum.
Having grown significantly over the last five years to become one of the UK’s leading training providers, Realise Training Group has been acquired by AQA – a not-for-profit independent education charity and a prominent exam board for GCSEs and A-levels.
Enact supported a management buyout of the apprenticeships and adult skills provider in October 2020, acquiring the business previously known as Interserve Learning & Employment from the Interserve Group.
“Realise, headed by Chief Executive Gregg Scott, has enjoyed a period of major expansion over the last five years with the 500-plus strong team now supporting more than 18,000 learners across England each year,” said Endless.
“The company has enjoyed CAGR of 22% in recent years and has moved from a loss-making position in 2020 to EBITDA of £4 million for the FY24 financial year with significant further improvement forecast.
“Under the ownership of Enact, Realise has made three major acquisitions – FW Solutions, Training Plus and Smart Gas Training and Assessment Centre, now rebranded to Smart Energy.”
Paul Denvers, Partner at Enact, said: “It has been a phenomenal five years supporting Realise Training Group, the progress of the company has exceeded all our expectations.
“There have been numerous highlights that our partnership with the business has delivered on, from the huge rise in the number of learners Realise supports, award successes, a fantastic Ofsted report and the completion of three notable acquisitions.
“Headed up by the outstanding leadership of Gregg, the team at Realise has always had a focus and passion for delivering educational quality and great learner experiences, a vision which was outlined when we first met the team in 2020.
“It is a great example of Enact identifying and delivering complex buy-out transactions by working side by side with leadership teams, as a true partner.
“We wish AQA and Realise Training Group every success for the future and look forward to following the ongoing success under new ownership.”
Realise Training Group will now operate as an independent subsidiary of AQA.
Realise offers apprenticeships in sectors including Early Years, Health and Social Care, Business Services and Transport. The training provider also delivers Adult Skills programmes in West Yorkshire, Liverpool City Region and a host of other locations.
Realise Training Group leader Gregg Scott said: “We have enjoyed a fantastic relationship with Enact and they have been instrumental in the success we have enjoyed in recent years.
“Chris Cormack, Paul Denvers and the wider team at Enact have been incredibly supportive of our expansion plans and have provided investment for key strategic acquisitions .
“Moving forward, we are delighted AQA will be our new long-term home, creating a unique link between two of the country’s leading educational organisations.
“This is fantastic news for our colleagues, the employers we partner with and our learners. We’ve enjoyed sustained success and growth over the last five years and we will be retaining the same principles which have been at the core of our success.
“It also means that our profits will be re-invested into education for the benefit of many thousands of people in the UK, which aligns with the philosophy of both AQA and Realise to deliver long-lasting and tangible social value.
“We are committed to providing high quality training, ensuring each individual embarks on the right programme for their specific needs and helping people across the country gain skills which will help them grow over their lifetime.
“After a hugely successful period under the ownership of Enact we now look forward to a bright future with AQA.”