Melorio has continued its consolidation of the UK’s vocational training sector with the acquisition of two government-funded vocational learning providers, Zenos and Zenos Learning.

Melorio has continued its consolidation of the UK’s vocational training sector with the acquisition of two government-funded vocational learning providers, Zenos and Zenos Learning.

The deal will be funded by £23 million provided by Barclays and Clydesdale Bank. The consideration will also include £6.5 million worth of shares and loan notes.

Tenon Corporate Finance acted as reporting accountant, conducting due diligence on the transactions. Tenon has advised Melorio since its initial flotation in October 2007, and the project team was led by Richard Lucas, senior manager of Tenon’s Transaction Services team.

Lucas said: “Melorio continues to build its business through selective acquisitions and the growth of its existing operations through operational excellence and shared best practices.”
Tenon will act as auditor for the enlarged group. This team will be led by David Spencer, director of Tenon Audit. n