Hogan Lovells Advises Ares Management on Sale of esg
19 December 2014
19 December 2014 - Hogan Lovells has advised Ares Management on the sale of the Employment & Skills Group (esg) to Interserve PLC for £25 million. The transaction was announced on Friday 5 December 2014. esg is one of the UK’s largest private sector providers of vocational training, skills and employability services for Government and employers, supporting over 65,000 people a year into work or training.
The transaction will provide Interserve, an international support services and construction group, with an extended range of services in the skills, education, training and employment markets; as well as a platform to extend services into the Kingdom of Saudi Arabia and other Middle East territories, as esg provides vocational training in three new Further Education colleges in Saudi Arabia under the Kingdom’s Colleges of Excellence programme.
The Hogan Lovells team advising Ares Management on the sale was led by Head of Private Equity Tom Whelan, with senior associate Erin Anderson, and associates Suzy Penney and Holly Hirst.
Commenting on the transaction, Tom said:
"We are pleased to have advised long-term client Ares Management on this exit. Ares Management has grown esg into one of the UK’s leading skills and welfare providers and its acquisition is a perfect fit with Interserve's strategy".
Hogan Lovells has, through relationship partner Paul Mullen, previously advised Ares Management on a number of recent transactions, including advising Ares Capital Europe and GE Capital EMEA on the unitranche financing of the acquisition of Open GI by Montagu Private Equity.