Wilmington buys health and safety training firm Phoenix HSC

(Sharecast News) - Publishing and education group Wilmington announced the acquisition of Phoenix Health & Safety Consultancy, expanding its operations in the health, safety and environmental (HSE) training market. Wilmington, which provides data, information and education in the governance, risk and compliance (GRC) sectors, said it is buying Phoenix HSC for £30.3m in cash, with an additional consideration payable based on future financial performance.

The company said the bolt-on deal adds to its capabilities in the growing HSE training market following the acquisition of virtual HSE training solutions provider Astutis last year.

Phoenix HSC, which was founded in 2005 and has over 50 employees, has delivered a "strong track record" of organic growth over a number of years and the acquisition should be earnings enhancing from day one, Wilmington said.

"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," said chief executive Mark Milner.