Management buyout for teacher supply agency
AN education company headquartered in Birmingham has undergone a management buyout.
City centre-based TeacherActive was founded in 2004 and supplies teachers, education support staff and nursery nurses to more than 3,000 primary, secondary and special education needs schools.
Supported by an undisclosed finance package from SME funder TDC and Clydesdale and Yorkshire Bank, the MBO will drive further growth into regional markets by expanding TeacherActive’s national branch network.
Simon Ryder, co-founder and previous chief executive, will remain with the business as a non-executive director on its board and his co- founder Jason Uppal has left the company to explore other opportunities.
Paul Newell, who has spent many years working in financial services including co-founding Clearwater International, has joined the board as chairman and the investment has allowed the incumbent management team to broaden its shareholder group.
Rob Browett, managing director at TeacherActive since 2015, said: “The management team are looking forward to a really bright future for the company.
“The investment raised will allow us to go from strength to strength, broadening the share ownership, opening new offices and allowing us to deliver an exceptional service to both our teaching staff and our schools.”
Richard Williams, partner at TDC, added: “TeacherActive is a forwardthinking business that recognises the opportunities within this growth market which is now worth more than £1 billion.
“We’re looking forward to working with the management team to identify new growth opportunities, respond strategically to evolving supply pressures and reach its full potential.”
Financial services firm Clearwater International arranged the financing from the Birmingham office from Clydesdale & Yorkshire Bank and TDC to support the transaction.
Director at Clearwater Joe Dyke said: “It’s been a pleasure to work with Rob Browett and the team to raise funding to support the MBO.
“The solution provided by Yorkshire Bank and TDC will enable management to maximise future opportunities in the market.”
Ian Mansell, senior director at Clydesdale & Yorkshire Bank, added: “We have been able to support the growth of TeacherActive over many years and we are delighted now to have been able to provide the senior financing which secures the ownership succession for Rob Browett and his team.”
Law firm DLA Piper advised TDC on the transaction.
The investment raised will allow us to go from strength to strength Rob Browett, managing director at TeacherActive