6 IN VIEW
conclusion a trade sale was our preferred option. We wanted someone to come to the table that understood the industry and was interested in us carrying on and, if anything, accelerating that growth.”
To that end, a list of the big players in the sector was drawn up at the time, which included ComfortDelGro. Business advisors were then drafted in to examine and explore sale opportunities.
Peter Slater Continued from Page 5
Peter said the planning behind the sale could be traced back over a decade, including a key brainstorming session in a hotel in Skipton some four years ago, held to explore all available options.
He said: “We looked at where we thought we could take the company over the next five years. It was the first time we’d done anything like that. We discussed potential paths to further growth and decided we would need more firepower.
“We could have taken the private equity route if we’d wanted, there was lots of interest, but we decided it just wouldn’t be suitable for us and the way we manage and operate our business.
“We also looked at a potential flotation which again was dismissed. So, we came to the
But with the world grappling with the pandemic there appeared no appetite for a CMAC deal while uncertainty surrounded the future of the travel industry and the project was shelved. Peter said: “People just wanted to wait and see what happened to CMAC after the pandemic.”
The project was revived in 2022, with KPMG appointed by the business to drive it forward. Its first step was to carry out extensive due diligence on the business before looking at the opportunities for a sale. Peter said: “Its team carried out a really deep dive, the whole process was intensive. We emerged from it with a clean bill of health.”
He revealed ComfortDelGro came to the table early with an offer that was readily accepted. He added: “It was then the real hard work began. We’ve had ups and downs throughout the process, and at one stage it looked like the deal might be off, but we were able to get back round the table and get it back on course.
“I’m really excited for the future and immensely proud of CMAC’s history and achievements, which wouldn’t have been possible without our fantastic team, valued clients and trusted
DEVELOPING THE CREATORS, THE INNOVATORS, THE LEADERS OF THE FUTURE
It’s been a very hectic – and rewarding – month at Themis at Burnley College.
I’ve been fielding text messages from friends and colleagues asking questions like “Where are you?”, “What country are you in?”, “Are you down in Westminster again?”
It’s testament to everything Themis stands for. To be at the forefront of industry we must always be pushing boundaries in education, and pushing ourselves and our learners to journey beyond the walls of Burnley College and out into global industry.
The month started with us celebrating the incredible achievements of our apprentices and their employers at our Inspire and Achieve Awards.
We heard from Grace Francis, an exceptional degree apprentice at HycAero. She spoke of being invited to Downing Street to meet secretary of state for education Gillian Keegan at a Skills Champion reception.
Head of Themis Hannah Cutler and I were
We feel so much pride seeing a multitude of Themis apprentices heading out into the world of industry in professions from engineering to marketing, early years care to sport and fitness, and delivering exceptional results again and again.
We know we are developing the creators, the innovators, the leaders of the future right here in the heart of Burnley.
Neil Burrows
also invited back to Westminster this week to the finals of the National Skills Championships.
A team of dedicated T Level students, apprentices and I ventured to Safran Nacelle’s Le Havre facility to learn from their global aerospace experts.
And this is how much we believe in the power of apprentices: our very own marketing degree apprentice Alex Gill accompanied us and provided amazing social media coverage.
nburrows@burnley.ac.uk
I’ve just returned from Birmingham’s ICC Annual Apprenticeship Conference which brought together 1,400 industry leaders, educators and policymakers from across the UK to discuss and share best practices, celebrating the power of apprenticeships in shaping the future of our workforces.
A colleague said to me: “You can tell Burnley College is the best college for apprenticeships. While most organisations have got one person, you’ve got eight!”
Our calendar doesn’t look like it will be clearing soon. But with all this success, here’s to another hectic month!
supply partner network. I’m looking forward to continuing our commitment to delivering a highly valued service as well as being an employer of choice.”
The acquisition is aligned with ComfortDelGro’s strategy to expand its point-to-point mobility services and offerings and it increases the group’s global footprint to 12 countries.
In the UK it owns and operates taxis and private hire vehicles through CityFleet Networks in Aberdeen, Liverpool and the North West. It also operates Metroline buses and Westbus coaches in London, Adventure Travel buses and coaches in Wales, as well as the Megabus, Scottish and Irish Citylink inter-city coach services.
Globally, its joint venture with British transport giant Go-Ahead will assume control of the Stockholm Metro network in 2025. It also operates services in Paris and Auckland, New Zealand. Last year it bought one of Australia’s biggest taxi firms in a £97.6m deal.
ComfortDelGro’s European chief executive Edward Thomas said the CMAC acquisition was aligned with its strategy to expand its “point-to- point mobility services and offerings”.
He said: “As an established player in providing wide-ranging emergency passenger transport services to businesses, CMAC is complementary to our operations in the UK and Europe, allowing us to expand our business-to- business offerings in the region. “In addition, as part of the wider ComfortDelGro Group, CMAC will be able to tap into our deep market knowledge to grow its business and reach.”
Dealmakers Page 14
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