Management buyout at education specialist

A CHELTENHAM-based education recruitment specialist has completed a management buyout for an undisclosed sum.

Class People, which has six offices across the South West, was established in 2002 by chief executive and former supply teacher Lynis Bassett.

Managing director Naomi Howells has now acquired the majority share of the £5m turnover company as Ms Bassett has decided to step back.

Ms Howells has been working in the family business since 2011, starting initially as a recruitment consultant and establishing the first regional branch in Bristol.

She was made managing director in September 2019.

Ms Bassett will remain on the board and continue in her roles as trustee of the company’s charitable arm, Class People Foundation, as part of its wider vision of purpose beyond profit, enriching the lives of young people in the local community and focusing on the role education plays for the future.

The transition will also allow the introduction of an EMI share scheme, supporting the Class People

Handing over the reins of the 21-yearold family business to Naomi is a natural progression for the business LYNIS BASSETT

team to acquire shares and part ownership of the business.

Ms Bassett said: “Handing over the reins of the 21-year-old family business to Naomi is a natural progression for the business.

“It was never the plan to be a family business, but it is certainly very rewarding to pass it on in this way. The transition heralds an exciting new phase for Class People, as it continues its work for the greater good of employment and recruitment in the education sector.

Ms Howells added: “I am delighted to take the lead for this next chapter in Class People’s business development and relish the many exciting opportunities ahead.

“Alongside our talented and experienced team, we’ll continue to build on the strong foundations that Lynis has worked so hard to establish for the business over the past two decades.

“With a growing client and candidate base, I could not be more positive about the future for Class People.

“Lynis and I will continue to work closely together to ensure the success of Class People, which in turn provides the funding for the Class People Foundation, whose purpose is to provide funding to support the welfare, wellbeing and aspirations of children and young people in early foundation stage, primary and secondary education.”