LONDON - Wilmington plc (LSE: WIL), a global provider of Governance, Risk and Compliance (GRC) services, has expanded its market presence with the acquisition of Phoenix Health & Safety (UK) Limited for an initial cash consideration of £30.25 million. The transaction, which was announced today, aims to enhance Wilmington's educational offerings within the health, safety, and environmental (HSE) sectors.
Phoenix Health & Safety, a leading UK provider of workforce health and safety training, will join Wilmington's portfolio of companies, which includes Astutis, acquired in November 2023. This move is set to consolidate Wilmington's position in the HSE training market, which is experiencing growth due to the increasing volume of regulations and the rising importance of environmental, social, and governance (ESG) considerations.
The initial payment of £30.25 million will come from Wilmington's existing cash resources, with additional payments contingent on Phoenix's financial performance through March 31, 2028. Wilmington anticipates that the acquisition will positively contribute to earnings in the first full year of ownership.
Mark Milner, CEO of Wilmington, expressed confidence in the acquisition, noting that Phoenix Health & Safety complements the group's strategic focus on GRC and is expected to enhance earnings from the outset. He praised Phoenix's strong management team, customer outcomes, and financial profile.
Established in 2005 by Nick Higginson, Phoenix Health & Safety has become a prominent player in health and safety training, delivering a variety of courses accredited by NEBOSH and IOSH. The company's capabilities in digital learning are particularly noted as an area for potential growth in partnership with Wilmington.
With over 50 employees, Phoenix Health & Safety's headquarters is located in Cannock, England. The company's robust track record of organic growth and its comprehensive suite of over 50 training courses, available through multiple delivery methods, make it a strategic asset for Wilmington in its quest to strengthen its educational services within the GRC markets.
This acquisition is in line with Wilmington's strategy to invest in assets with strong leadership and sustainable competitive advantages in attractive market segments. The information for this article is based on a press release statement.
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