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PPI Learning Ltd the IT and Professional Skills training company formerly known as Spring IT Training has been placed into administration in the UK.
Stephen Katz and David Birne of Fisher Partners, London have been appointed as joint administrators of the company.
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A spokesman for PPI said "The UK Training Market has been difficult for some time and the board reluctantly took the decision to dispose of the operation. We had been negotiating a sale of the business to a competitor which we had hoped to conclude before Xmas, but we have now accepted that this will not happen."
Stephen Katz of Fishers commented "PPI has a significant operation with three large training centres and a unique mobile training division. Following an initial inspection we hope to trade the business to preserve its intrinsic value"
Michael Charles of Amco Agency has been retained to negotiate a sale of the business and assets.
"We are currently out in the marketplace looking for a decisive buyer to acquire all or part of PPI Learning, This is a first class opportunity to acquire over £10m of quality revenue per annum in a market were consolidation is the dominant strategy" said Michael Charles.
Parties interested in acquiring the assets of the company should contact Michael Charles +44 (0)8452 300 700.
We would like to make it clear that Productivity Point International who are located in Slough (UK ) are not party to this administration order.
No warranty is made or is to be implied and no liability is accepted by the joint administrators as to the accuracy or completeness of the information provided herein. Parties interested in purchasing the assets must rely on their own investigations.
Notes to editors
Contact Person: Michael Charles
Company Name: Amco Agency
Voice Phone Number: +44 (0) 845 230 0700
Email Address: mc @ amco-agency.com
Website URL: www.amco-agency.co.uk
About PPI Learning Ltd
PPI Training is rated 13th by revenue by IT Skills Research
PPI Training's turnover for 2005 was £11.5m.
PPI Training's published course catalogue lists nearly 700 available courses.
PPI Operates fully equipped Learning Centres in Birmingham , Leeds and London.
PPI is a Microsoft Gold Certified Training Partner
PPI won the Gold award "External e-Learning Project of the Year 2004&quo 94b t; for its work on the NHS ECDL learning project.
PPI has a fleet of 7 climate controlled mobile classrooms for on site training.
PPI Learning operates a managed services division to administer and control a client's complete training requirement.
About Fisher Partners
Fisher Partners is the specialist insolvency division of H W Fisher
Contact Stephen Katz 020 7388 7000
About Amco Agency
AMCO AGENCY has provided valuation and agency services to insolvency practitioners since 1991. Amco's experience spans most types of chattel assets including IP and knowledge based assets.
Contact Michael Charles 08452 300700
