Birmingham based advisers, Cattaneo, have provided financial advice to the board of Prospects Group on the merger of Prospects Group into Shaw Trust.
Prospects Group, based in Kent, is a £90m turnover provider of skills, education and care and support that operates across the UK in a wide variety of sectors, from children’s services and justice to education and employment and skills. It is also a leading provider of careers services for young people and adults in England. Bristol based Shaw Trust is a national charity working to create brighter futures for the people and communities they serve. Shaw Trust provides employment services, skills development training and health and wellbeing support to 50,000 people across the UK each year. Prospects joins Shaw Education Trust, Ixion, Forth Sector, Disabled Living Foundation and Shaw Trust in forming the Shaw Trust Group. The newly-formed Group employs almost 3,200 staff and has a combined turnover of £250 million.
Charles Cattaneo and Sam Turton of Cattaneo LLP provided corporate finance advice to the board of Prospects Group on the acquisition.
Commenting on the merger, Roy O’Shaughnessy, Chief Executive of the Shaw Trust Group, said
“This marks a very special day on our journey to transform the lives of one million young people and adults each year by 2022. We deliver services for a range of government departments and local authorities, and as a charity we add value to every service we deliver by investing back into the communities we serve.
“I am delighted that Prospects has joined our Group. We deliver many complementary services and now, together, we can offer an even greater range of support to our customers.”
Nick Bell, Chief Executive of the Prospects Group said
“Prospects is excited about joining the Shaw Trust Group. We have a very similar mission and values to Shaw Trust, and the merger of our organisations will enable us to create new opportunities and inspire more young people and adults a year to develop their potential.”