Wilmington plc, a provider of data, information, education and training services in the global governance, risk and compliance markets, has acquired Cardiff headquartered Astutis for £21.5 million in a deal advised by Gambit Corporate Finance.
Founded in 2011 by Steve Terry, Brenig Moore, and David Lea, the company has emerged as a prominent player in the field of workforce health and safety training. Notably, it has also developed significant expertise in environmental management and sustainable business practices.
As part of the deal, Steve Terry and Brenig Moore will continue to be integral parts of the company's ongoing journey and growth.
Wilmington has completed the acquisition for an initial payment of £16.8 million, with potential additional payments of up to £4.7 million contingent on Astutis' future performance and allows Wilmington to extend its capabilities into the health, safety, and environmental markets.
The sector has witnessed remarkable growth in recent years, with a heightened focus on employee well-being and regulatory compliance. Increasingly, businesses across all industries are recognising the critical importance of investing in comprehensive training programs. Factors such as evolving workplace hazards, the need for specialised skills, and the rise of remote work have contributed to the sector's expansion.
Additionally, advancements in technology have enabled more accessible and effective training methods, including e-learning and virtual simulations. As organisations continue prioritising safety and well-being, the workforce health and safety training sector is poised to continue its upward trajectory.
The Gambit team which advised on the transaction was Geraint Rowe (Partner), Simon Marsden (Director) and Will Haggaty (Analyst).
Geraint Rowe,
Geraint Rowe, founder shareholder of Astutis and Partner at Gambit, commented:
“We are delighted to have acted for the shareholders of Astutis on this transaction which further highlights Gambit’s strong credentials in the Recruitment and Training space where we are regarded as one of the UK’s leading advisers. This successful outcome is testament to Gambit’s deep sector knowledge, understanding of the buyer landscape and our track record in delivering M&A advisory services which exceed shareholder expectations.”
Simon Marsden, Director at Gambit, commented:
“We are seeing a particularly strong appetite for high-quality assets in the Education and Training space and expect to see further consolidation in the sector. We are already working with a number of other clients to help them achieve their strategic objectives, which augurs well for the continued growth of our credentials in the sector.”
Mark Milner, chief executive of Wilmington, said:
“The acquisition of Astutis, which is earnings enhancing, is consistent with our strategy in the GRC market to broaden and strengthen our training and education capabilities.
“Astutis embodies all of our six key business characterises in that it operates in growing GRC focussed regulated markets, has a strong and experienced management team, a comprehensive products suite, growing revenues and profits, and excellent digital capabilities.”
