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Learning Technologies Group plc (LTG) completed its acquisition of GP Strategies on October 15, 2021. The transaction was financed by an £85 million share placing and $305 million of debt financing, both of which completed in mid-July. The combined business has a stated pro-forma revenue of approximately £500 million and operates with over 5,000 employees in more than 80 countries.
| Date | 15 Oct 2021 |
| Time | 07:00:03 |
| Category | Acquisitions and alliances |
| ID | 1653P |
Learning Technologies Group plc
("LTG", the "Group")
(AIM: LTG)
LTG Completes Acquisition of GP Strategies
Further to its announcement of 8 October 2021, Learning Technologies Group plc, the provider of services and technologies for digital learning and talent management, is pleased to announce the successful completion of the acquisition of GP Strategies.
The combined business will generate pro-forma revenue of c.£500 million and provide LTG with an enhanced global footprint with over 5,000 employees in more than 80 countries. LTG has a strong track record of successfully integrating acquisitions and has identified significant margin enhancement and cross-sell opportunities. LTG expects the transaction to be significantly EPS accretive from 2022.
The transaction is financed by an £85 million share placing and $305 million of debt financing, both completed in mid-July.
The Board looks forward to updating shareholders on progress in early 2022.
ENDS
Enquiries:
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Learning Technologies Group plc Jonathan Satchell, Chief Executive Neil Elton, Chief Financial Officer
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+44 (0)20 7402 1554 |
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Numis Securities Limited (NOMAD and Corporate Broker) Stuart Skinner, Nick Westlake, Ben Stoop
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+44 (0)20 7260 1000 |
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Goldman Sachs International (Joint Corporate Broker) Bertie Whitehead, Adam Laikin
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+44 (0)20 7774 1000 |
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FTI Consulting (Public Relations Adviser) Rob Mindell, Jamie Ricketts |
+44 (0)20 3727 1000 |
About LTG:
LTG is a leader in the growing workplace digital learning and talent management market. The Group offers end-to-end learning and talent solutions ranging from strategic consultancy, through a range of content and platform solutions to analytical insights that enable corporate and government clients to close the gap between current and future workforce capability.
LTG is listed on the London Stock Exchange's Alternative Investment Market (LTG.L) and headquartered in London. The Group has offices in Europe, North America, LATAM and Asia-Pacific.