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.
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