Businessman in multi-million Euro bid for Dublin firm

A WEXFORD businessman is said to be planning to make a multi-million Euro offer to take over an e-learning company that has a reported annual turnover of €7.2m, this newspaper can reveal.

Karl Fitzpatrick, who is the owner of wellknown local recruitment company Chevron Training and Recruitment, is believed to be in the process of making an offer for the Shaw Academy which is a Dublin based e-learning provider.

The business delivers online training courses to 4.5 million students globally.

However, this month the business sought the protection of the High Court after its largest creditor made demands on the group to repay loans of €5.7 million.

Subsequently, a court-appointed examiner set the process in motion whereby investment in being sought to enable a scheme to be put in place that would see the group successfully exit examinership.

Mr Fitzpatrick was unavailable to comment on the matter when contacted by this newspaper and negotiations are at a sensitive stage.

There are 66 people employed by Shaw Academy and with Chevron’s head offices located in Wexford it’s anticipated that if successful in any bid to acquire the company those jobs would be relocated to the Model County.

Having acquired full control of Chevron Training & Recruitment Ltd in 2012 and successfully growing the company by 400 per cent over the last six years the Shaw Academy would be see Mr Fitzpatrick’s portfolio of business interests expand considerably.

The announcement of the three preferred bidders is expected this week.