A North East-headquartered training provider, which works across sectors such as engineering and automotive, has undergone a management buyout (MBO) in a deal backed by Shard Credit Partners.
NAC Group, incorporating independent training provider NA College, offers courses ranging from school engagement activities, apprenticeships and post-19 skills programmes.
The Washington business was founded by Paul and Wendy Robson, originally to support apprenticeships and skills development for the advanced manufacturing automotive sector.
NA College now works with employers in areas such as business improvement, supply chain and lean manufacturing and, in 2020, it became a partner of the North East Institute of Technology (IoT), which looks to strengthen the higher technical education offer in the region.
The MBO has been led by four members of the college’s management team including Lisa Snaith, who has taken the role of chief finance and executive officer, Margherita Pasquariello, chief strategy and executive officer, Steve Pallas, operations director and head of HR and ESG Lindsey Vickerson.
Paul Robson will remain with the company as chairman.
The loan from Shard Credit Partners represents its growing support for the education sector and providing greater opportunities for young people.
Lisa Snaith said: “The demand for high quality vocational training is increasing, both from young people who recognise apprenticeships as a worthy route to a career, and from employers that are utilising our training to improve productivity and remain competitive.
“NA College has established a superb reputation in the manufacturing and engineering markets, particularly automotive and we are very proud to be able to build upon the outstanding achievements of the company under the direction of Paul and Wendy as owners of the business, working closely with Shard Credit Partners.”
Alastair Brown, chief executive of Shard Credit Partners, added: “For the economy to succeed it is vital that the UK fills the skills gaps that exist in key industries with the support of high-quality training providers such as NA College.
“We’re also delighted to be supporting, what is unfortunately still quite rare, a predominantly female-led management buy-out team. With our financial support, we are keen to see the college enhance its provision of courses and training opportunities to meet the evolving need of businesses.”
Corporate finance advice was provided to management and Shard Credit Partners by Newcastle-based RG Corporate Finance, led by Partner and head of corporate finance Carl Swansbury, CF Director Rhiannon Nightingale and CF Senior Manager Connor McBride.
Legal advice to Shard Credit Partners was provided by Andrew Madden, Alison Davidson-Cox and Andrew Cowan from Gateley, while the management team was advised by Paul Christian, Imogen Holland and Nicole Axon of Ward Hadaway.
Financial due diligence was undertaken on behalf of Shard Credit Partners by RMT, led by Michael Cantwell and Ayden De Beer.
Paul and Wendy Robson received corporate finance advice from TIG Corporate Finance, led by Barry Gill, with legal advice from Mark Lazenby, partner at commercial law firm Square One Law.
Carl Swansbury, partner and head of corporate finance at RG Corporate Finance, said: “Shard Credit Partners has identified the opportunity to support the new directors in their ambitions for the college to play a greater role in vocational training in the North East.
“Private training providers such as NA College are a key contributor to meeting the skills requirements of the UK and in particular critical industries such as advanced manufacturing. We look forward to seeing the management team and Shard continue to grow and develop NA College over the coming months and years.”
