Wed, 15 May 2019 | BUSINESS SALE
Challenge TRG Group, headquartered in Wigan, has successfully acquired Birmingham-based Phoenix Training Services to address the HGV driver skills shortage across the country.
Operating a logistics recruitment and distribution company, Challenge TRG Group has taken over the training specialist to bring its overall turnover to £120 million. Phoenix Training Services' founder and director, Trevor Cox, will continue with the business as a non-executive director, whilst Simon Bladon, the operations director, will move over to Challenge.
Presently, Phoenix provides training in customer service, forklift truck driving and administration, which will expand to include driver training, warehousing and manual handling and first aid in classroom and e-learning capacities.
The acquisition primarily tackles the shortage of 60,000 HGV drivers in the country, whilst also aiming to improve skill sets of 4,000 temporary workers and 158 permanent staff members.
HSBC and Praetura financed the deal, with Grant Thornton and a number of other advisory firms advising both parties.
Group chief executive of Challenge TRG Group, Tom Cropper, said: "Challenge has been working with Phoenix for more than two years as our preferred training partner for both internal colleagues and, more recently, training delivery for some of our key clients.
"The intention is to overlay Phoenix's training services across our business, with a focus on developing and engaging our workforce, whether across industrial or driving sectors."
Cox commented on the acquisition, adding: "The team has the same commitment and passion for investing in people, and using the latest training methods, to develop a robust workforce that ultimately provides clients with a higher quality of temporary workers.
For more news stories about acquisitions, click here. For all our business for sale listings, click here.
A profitable classic and prestige car repair and restoration business. Over the last 25+ years, the vendor has built a reputable brand and profitable business offering a variety of specialist repair and restoration services for classic and prestige c...
Established for approaching 9 years, the business has organically grown 20% in the past 2 years and is currently able to offer both self-managed and fully managed vending services to clients across all business sectors.
This is a specialist property inventory and management services company. Over the past 10+ years, our clients have built a solid and profitable business with a well-respected reputation offering a range of property inventory services which they now p...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.