Charity puts its trust in the North with landmark acquisition

BACKGROUND

Shaw Trust is a £130m national charity providing employment opportunities, skills development training and health and well-being services across the UK.  Being one of the largest charities in the UK, it seeks to transform the lives of young people and adults across the UK and internationally.

The Prospects Group is a Bromley-based £90m turnover, employee-owned provider of skills, education and care and support to a variety of users in different demographics.

The similar and complementary services offered to people across different areas of the UK meant that economies and efficiencies would ensure the sum of the parts would impact an even greater proportion of service users.

BUSINESS NEEDS

Historically Shaw Trust had achieved growth by means of bidding for and winning new contracts in tandem with smaller acquisitions. The Trust recognised the potential complexities of acquiring Prospects and, as such, needed a trusted advisor.

Some of the issues to deal with during the acquisition process included multiple locations, acquiring a business with a wide shareholder base (employee owned), various pension aspects to consider (as a result of public sector contracts) and other matters where the Trustees of Shaw Trust needed comfort.

DTE SOLUTION

DTE worked extremely closely with the Trustee Board, CEO and CFO of Shaw Trust to effect this transaction. Being involved with all transactional decisions gave the Shaw Trust team the confidence to work through an array of complex issues.  DTE provided a senior led approach and attended all critical meetings, including important talks with the pension regulator.

The transaction propelled Shaw Trust into the top twenty five charities by turnover in the UK and is now one of the Government’s lead partners in the delivery of employment programmes for disabled and disadvantaged people.