Vocational training provider Melorio has received a takeover offer from media company Pearson, raising prospects of an exit for its backer, Marwyn.
Vocational training provider Melorio has received a takeover offer from media company Pearson.
The offer at 225p a share values Melorio at approximately £120 million. Investment group Marwyn, which launched the company in October 2007 at 100p a share, has given an irrevocable undertaking to sell its entire 26 per cent shareholding to Pearson at 225p.
Marwyn holds its stake in Melorio through its cornerstone fund Marwyn Value Investors. The firm specialises in floating cash shells on AIM which are then built, through acquisition, into larger groups.
Mark Watts, managing partner at Marwyn, says Pearson’s bid is proof that Melorio is an ‘industry-leading’ business. He adds that the vocational training sector is ‘key to improving productivity and output in the UK’.
Melorio delivers training across the IT, construction, logistics and healthcare industries.