Wilmington plc to acquire Phoenix Health & Safety
Phoenix Health & Safety is pleased to announce that it has been acquired by Wilmington plc, in a deal with an initial cash consideration of £30.25 million.
Since it was founded in 2005 by award winning entrepreneur, Nick Higginson, Cannock based Phoenix has experienced dramatic growth to become one of the leading training providers in the health, safety and environmental (HSE) sector.
Nick will retain full control of business operations as the company Managing Director, whilst the sale also sees an exit for current minority shareholder, Future Planet Capital.
Phoenix offers a range of accredited industry standard training courses to blue chip clients and HSE professionals around the globe, including NEBOSH (National Examination Board in Occupational Safety and Health) and IOSH (Institution of Occupational Safety and Health).
The deal also includes contingent considerations based on Phoenix’s performance in the three years ending 31 March 2026, 31 March 2027 and 31 March 2028. The total of these contingent considerations will be financed from the Wilmington plc’s existing cash resources. Wilmington plc expects the acquisition to be earnings accretive in the first full year of ownership.
For Phoenix, the acquisition means the company can strengthen its position and continue its impressive growth journey with the backing of a plc who is an industry leader in the compliance market.
Nick said: “Phoenix started from my kitchen table in 2005 with a £500 high-interest credit card. This deal is the culmination of 25 years of hard work as Phoenix has grown to become a market leader in the industry.
“The deal now gives us a platform to extend our reputation for world class training into new markets and territories, and we are determined to continue our spectacular growth of the last five years. I am delighted to have proved that saving lives and reducing injury/ill health is not mutually exclusive from delivering profits and value to stakeholders.
“I am very proud of all that we have accomplished, and this deal builds on the recognition Phoenix and I have received, including being recognised as one of the top 50 most ambitious business leaders in the UK.”
Mark Milner, Chief Executive Officer at Wilmington plc 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."