REG - Wilmington PLC - Acquisition of Phoenix Health & Safety

WilmingtonAnnouncement

25/10/2024 07:00

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RNS Number : 5658J  Wilmington PLC  25 October 2024

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INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

25(th) October 2024

 

Wilmington plc

 

Acquisition of Phoenix Health & Safety

 

Wilmington plc (LSE: WIL, "Wilmington" or the "Group"), the provider of data,
information, education and training services in the global Governance, Risk
and Compliance ("GRC") markets, has acquired Phoenix HSC (UK) Limited
("Phoenix Health & Safety") for an initial cash consideration of £30.25
million.

 

Phoenix Health & Safety offers training for a range of internationally
recognised and regulated health, safety and environmental ("HSE")
qualifications. The acquisition strengthens Wilmington's capabilities in the
provision of must-have training and education to regulated customers and
expands the Group's position in the growing HSE training market, alongside
Astutis, which was acquired in November 2023.

 

Wilmington will pay an initial cash consideration of £30.25 million, with
additional contingent consideration payable based on Phoenix Health &
Safety's financial performance in each of the three years ending 31 March
2028. The total consideration will be financed from the Group's existing cash
resources. The initial consideration represents a valuation in line with
Wilmington's current trading multiple. The acquisition is expected to be
earnings accretive in the first full year of ownership.

 

The acquisition is consistent with Wilmington's strategic aim to build on its
already strong presence in large and growing GRC markets. These markets are
underpinned by strong macro drivers, particularly the increasing volume and
enforcement of regulation, the increased importance of ESG and widespread
adoption of technological and data-driven compliance solutions.

 

Wilmington focuses on assets which operate in attractive market segments and
which have strong leadership and sustainable competitive advantages. Phoenix
Health & Safety has demonstrated a strong track record of organic growth
over a number of years.

 

Mark Milner, Chief Executive Officer of Wilmington, said:

 

"This acquisition strengthens our offering to customers in the health, safety
and environmental markets and will be earnings enhancing from day one.

 

"Phoenix Health & Safety is an excellent addition to our group, with a
strong fit with our core strategic focus on GRC, a differentiated competitive
position which is built on superior outcomes for customers, a strong
management team, and an attractive financial profile.

 

"Phoenix Health & Safety has excellent capabilities in digital learning
and we are excited by the opportunity to partner with Nick and his team to
support the next phase of the company's growth."

 

Background to Phoenix Health & Safety

 

Phoenix Health & Safety was established in 2005 by Nick Higginson and has
grown to become a leading provider of workforce health and safety training in
the United Kingdom.

 

Phoenix Health & Safety delivers training to global blue-chip clients and
industry professionals for a wide range of internationally recognised health,
safety and environmental qualifications. Phoenix Health & Safety works
with a number of leading accreditation partners including NEBOSH (National
Examination Board in Occupational Safety and Health) and IOSH (Institution of
Occupational Safety and Health).

 

Phoenix Health & Safety has a strong capability in the provision of
mission critical HSE training and offers over 50 different training courses
with a comprehensive range of delivery options, including in-person and
virtual classroom-based training, and a growing capability in e-learning.

 

Headquartered in Cannock, England, Phoenix Health & Safety has over 50
employees.

 

The person responsible for the release of this announcement on behalf of
Wilmington is Guy Milward, the Chief Financial Officer of Wilmington.

 

For further information, please contact:

 

Wilmington plc
 
 
 
020 7490 0049

 

Mark Milner, Chief Executive Officer

Guy Millward, Chief Financial Officer

 

Meare Consulting
 
 
07990 858548

 

Adrian Duffield

 

 

Notes to Editors

 

Wilmington plc is the recognised knowledge leader and partner of choice for
data, information, education and training in the global Governance, Risk and
Compliance (GRC) markets. Wilmington employs over 650 people and sells to
around 120 countries. Wilmington is listed on the main market of the London
Stock Exchange.

 

 

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