A training provider is targeting expansion following a management buyout.
NAC Group – which incorporates NA College – says it wants to deliver more engineering and automotive courses for youngsters.
The buyout has been led by four members of the college’s management team, with Lisa Snaith taking over as chief finance and executive officer, and Margherita Pasquariello becoming chief strategy and executive officer.
Steve Pallas is now operations director, with Lindsey Vickerson head of HR and ESG.
Co-founder Paul Robson remains as chairman at the Washington-based organisation, which offers courses from school engagement activities through to apprenticeships and post-19 skills programmes, and works with New College Durham, South Tyneside Council, Sunderland College and the Department for Education.
Lisa said: “NA College has established a superb reputation in the manufacturing and engineering markets, particularly automotive, and we are very proud to build upon the outstanding achievements of the company.”
The buyout comes after loan funding support from Shard Credit Partners.
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, corporate finance director Rhiannon Nightingale and corporate finance senior manager Connor McBride.
Legal advice to Shard Credit Partners was provided by Andrew Madden, Alison Davidson-Cox and Andrew Cowan from Gateley plc, 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 added: “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.”