EMC Corporate Finance is delighted to announce the sale of Crawley-based T Team Limited, trading as TrainingTeam, to the Tunbridge Wells-headquartered Freight Transport Association (FTA).
TrainingTeam provides market-leading, industry-approved specialist training courses, focused on the movement of dangerous goods by air, road and sea, at venues across the UK and online.
The business was founded in 1988 by Charles Manetta following a successful career in airline ground operations and staff training. He was instrumental in the development of specialist training for the handling of dangerous goods and security training in the UK airline industry.
He said: “I am delighted to be handing on the organisation to the FTA which is equally passionate about the industry, security and safety.
“We were advised throughout by the EMC team, led by Michael Pay, who made the initial approach to the FTA and negotiated the deal.
“When I first met Michael on a train going to the Goodwood Revival, I hadn’t particularly been thinking about selling the business, but I later realised that maybe it was the right time to pass it on to a worthy partner. Thanks to Michael’s skills in identifying and presenting the opportunity to the FTA, as well as managing the whole process from start to finish, I am extremely happy with the outcome for everyone.”
David Wells, the FTA’s Chief Executive, said: “The FTA is already a leading provider of compliance training for the transport industry. This acquisition strengthens our ability to ensure that our members, many of whom are already customers of TrainingTeam, can be confident in the movement of dangerous goods across all transport modes, and cements FTA as the go-to provider for high quality training across the logistics sector.”
He added: “Mike Pay was invaluable in this process – keeping things focussed and delivering value for both sides in the transaction. EMC is great for deals of this kind where family business owners come up against the rigours of corporate governance.”
Michael Pay, EMC’s Corporate Finance Director who is on the Corporate Finance Adviser of the Year shortlist for the 2018 Insider South East Dealmaker of the Year Awards due to be announced on 1 February, commented: “It was a pleasure to work with Charles and David to effect the sale of TrainingTeam. Once again it demonstrates the ability of our team to bring together parties who otherwise would not have done a deal.
“As Charles himself says, he wasn’t particularly looking for a sale when we first met, but after discussing it with him again a little while later, we approached the FTA and managed to put together a transaction that works for all concerned.”
EMC’s team advising the TrainingTeam shareholders was supported by Pitmans Law and Starus Accounting Limited. Gaby Hardwicke advised on property matters. asb law advised the Freight Transport Association.Back to all news