Cannock training provider sold to multi-national firm in £30million plus deal

Founded in 2005 by Nick Higginson, Hednesford based Phoenix has grown "from the kitchen table" to become one of the leading training providers in the health, safety and environmental (HSE) sector. 

Phoenix offers a range of accredited industry standard training courses to blue chip clients and HSE professionals around the globe, including NEBOSH (National Examination Board in Occupational Safety and Health) and IOSH (Institution of Occupational Safety and Health). 

The company says the acquisition, worth an initial £30.25m, means the it can strengthen its position and continue its impressive growth with the backing of a public company which is an industry leader in the compliance market.

While the sale will see an exit for current minority shareholder, Future Planet Capital, founder Nick Higginson will retain full control of business operations as the company's Managing Director.

“Phoenix started from my kitchen table in 2005 with a £500 high-interest credit card. This deal is the culmination of 25 years of hard work as Phoenix has grown to become a market leader in the industry," he said.

“The deal now gives us a platform to extend our reputation for world class training into new markets and territories, and we are determined to continue our spectacular growth of the last five years. I am delighted to have proved that saving lives and reducing injury or ill health is not mutually exclusive from delivering profits and value to stakeholders.

“I am very proud of all that we have accomplished, and this deal builds on the recognition Phoenix and I have received, including being recognised as one of the top 50 most ambitious business leaders in the UK.”

The deal includes contingent considerations based on Phoenix’s performance over the next three years, set to be financed from Wilmington’s existing cash resources. Wilmington plc says it expects the acquisition to be earnings accretive in the first full year of ownership.  

Mark Milner, Chief Executive Officer at Wilmington plc said: "This acquisition strengthens our offering to customers in the health, safety and environmental markets and will be earnings enhancing from day one.

"Phoenix Health & Safety is an excellent addition to our group, with a strong fit with our core strategic focus on GRC, a differentiated competitive position which is built on superior outcomes for customers, a strong management team, and an attractive financial profile.

"Phoenix Health & Safety has excellent capabilities in digital learning and we are excited by the opportunity to partner with Nick and his team to support the next phase of the company's growth."