NOT FOR PROFIT MILITARY ETHOS EDUCATION CHARITY DELIVERING CHARACTER AND RESILIENCE EDUCATION PROGRAMMES TO 6-18 YEAR OLDS
Smith Cooper (“SC”) has been engaged to assist in a merger or acquisition process of a national not for profit education charity which uses the unique skills and experience of former service personnel as instructors to deliver pioneering character and resilience programmes to circa 15,000 children on 550 programmes in 350 schools nationally (2019).
The small central services team (“CS”) operates from a leasehold office in North Nottinghamshire and there are regional ‘team bases’ in Scotland, England and South Wales. The leases are all relatively short term and the Nottingham CS team office lease is due for renewal shortly.
Trading as a Charity the Limited company commenced operation in 2004. Turnover in the FY 17/18 was £4.6m. The company specialises in character and resilience education programmes which are delivered to classes of children for 2+ hours a week either throughout the school year (circa 36 sessions) or, on the supporting programmes, for 12 or 18 weeks again at 2 hours + per week.
Assets available include an operational charity with a workforce of 95 and a sales pipeline of £2.2m and growing, equipment to deliver the school based programmes, IT infrastructure, branded lease vehicles for BDMs, a modern minibus (owned 17 plate Ford Transit), office furniture and all other equipment associated with a business of this type.
Turnover per the unaudited accounts for the year ended 31 March 2019 was c.£4m.
To protect the company’s goodwill and trade, it is proposed that any sale will need to be completed by 18 July 2019, and as such, this opportunity is only likely to be available for a short period of time.
Following receipt of expressions of interest, and a signed Non-Disclosure Agreement, brief sales particulars will be provided via a data room. Offers should be made by way of sealed bids, and need to be sent to SC by 12 noon on 15 July 2019, together with evidence of funding.
When submitting your offer, please provide contact details of your solicitors and evidence of funding to expedite matters. If you are interested in pursuing this opportunity further, please contact one of the following for additional information: