Learndirect could get £100m flotation

Learndirect could be in line for a £100m flotation, it has been reported.

According to Education Investor magazine, the training provider’s owner, Lloyds Development Capital (LDC), has appointed Numis Securities to advise on the listing.

Neither Learndirect nor LDC, part of the Lloyds Banking Group, would deny the rumour when pressed by FE Week, but both declined to comment.

The firm, based in Sheffield, West Yorkshire, is one of the UK’s largest providers in the training and e-assessment markets, running apprenticeships for companies including McDonald’s.

Learndirect was launched in 2000 by University for Industry (UfI) and was sold, with UfI ltd, which managed Learndirect, by Ufi Charitable Trust to LDC in 2011 for £40m.

Learndirect then merged with JHP the following year and now has a network of 490 centres and more than 2,000 employees nationwide.

It has a current Skills Funding Agency allocation of more than £154.6m and delivers around 18,000 apprenticeships a year.

The provider received a grade two, good, grading from Ofsted following an inspection in March last year.