Vosper Thornycroft Holdings PLC
8 August 2001
8th August, 2001
FOR IMMEDIATE RELEASE
VT EXPANDS ITS LEARNING BUSINESS
Vosper Thornycroft (VT) has acquired Westminster Education Consultants (WEC)
for a total consideration of up to £5.0m. The consideration has been satisfied
by a payment of £2.25m at completion with further payments of up to £2.75m
based on future performance.
WEC, based in London, is a leading UK supplier of schools inspection services
to OFSTED and also provides a range of education consultancy services to the
DfES and Local Education Authorities. VT is a well-established provider of
training and education services to both young people and adults. This includes
vocational work based training, where VT is one of the UK's largest private
providers, and careers advice and guidance to young people where VT is the
VT Chief Executive Martin Jay commented: 'This acquisition continues our
strategy of developing a high quality business group relating to all age
learning. We believe that there are exciting opportunities for the private
sector linked to the Government's drive to raise standards in both academic
and vocational education. We intend to grow as a major player in this emerging
new market and become one of the governments key partners in raising
Notes to Editors:
* Vosper Thornycroft is a leading civil contractor focusing on support
services, shipbuilding and marine products. Together, these activities
employ 7,500 people in a global network covering the UK, Europe, United
States and the Middle East. Turnover is in the region of £400m per annum.
* Support Services accounts for over 50% of turnover and consists of both
military and civil activities. Military support covers all three services
and includes training, plant and equipment maintenance and facilities
management, while civil support focuses on training, education, careers
advice and guidance and specialist technical services.
* VT is one of the world's leading designers and builders of naval ships
both for the RN and overseas customers. Products include destroyers,
frigates, patrol vessels, attack craft, minehunters and smaller boats for
the paramilitary and commercial market. Building in steel aluminium or
fibre reinforced plastic.
* VT marine products is an electronic/electrical systems business
concentrated on the marine, offshore and power industries.
* 'DfES' is the Department for Education and Skills.
* 'OFSTED' is the Office for Standards in Education.