Sovereign Capital continues to Buy & Build as STL acquires Orient Gold

Sovereign Capital today announces the acquisition of Orient Gold, a national provider of apprenticeship and adult learning, by portfolio company STL, for an undisclosed sum.

Orient Gold, founded in 1996, delivers Train to Gain and National Vocational Qualification (NVQ) Apprenticeship training to over 800 young people in their place of work. The business specialises in the Retail (Customer Service and Team Leading) and Food and Drink sectors. Orient Gold's national key accounts include the retail clothing chain Ted Baker, specialist PC and video games retailer Game Group plc, car parts and accessories retailer Motorworld and the Real Hotel Company which comprises Comfort, Quality, Sleep Inn and Clarion hotels.

Orient Gold's quality team, national focus and blue-chip client base perfectly complement STL's strength in working with hard-to-reach SME employers to deliver training. The acquisition will bring real benefits through an improved and increased learning offer, as well as playing to the core strengths of the two companies. The new combined group has over 240 employees and over 3000 people across England benefit from their training programmes.

Sovereign first backed STL in November 2006 though a management buy-out. Since then the STL has been busy implementing Sovereign's 'buy & build' strategy of organic and acquisitive growth. The ultimate aim is to create the UK's market-leading national vocational training provider. This acquisition marks the first milestone in that journey and Sovereign will continue to support STL as it further expands its services in the future.

Commenting on the transaction, Simon Hitchcock, Director, Sovereign Capital said:

"The acquisition of Orient Gold demonstrates Sovereign's ability to work with management teams to source and efficiently transact deals that create value and build market-leading businesses."

Adrian Holmes, CEO of STL, added:

"This is a great opportunity for both businesses to reap the benefits of access to complementary resources and skill-sets for the combined benefit of our customers. STL has an excellent reputation and the acquisition of Orient Gold provides us with access to contracts with the Learning and Skills Council's National Employer Service for the delivery of apprenticeship learning in large companies."