Newcastle-based Ryecroft Glenton Corporate Finance has advised on the acquisition of a national education staffing business.
Synarbor Group, which in November 2015 received investment from private equity investor Sovereign Capital, has acquired a controlling stake in North Yorkshire-based Just Teachers.
Managing Director, David Jones and Operations Director, Caroline Cafferty will stay with the business, along with the existing management team to help expand the business into new locations and markets over the coming years. Two non-operational shareholders have sold their interest.
Just Teachers, which has its head office in Skipton, along with four further branches in the North West, Midlands and London, places teaching and support staff into primary, secondary and special educational needs schools throughout the UK.
Advising on the deal for Just Teachers’ shareholders from Ryecroft Glenton Corporate Finance was Partner Carl Swansbury, Senior Tax Manager Charlie Burton and Tax Director Simon Hopwood. Legal advice was provided by Rob Thompson and Tom Pollard from Newcastle-based Ward Hadaway.
Advising Synarbor Group and Sovereign Capital, was Grant Thornton and CMS. Funding for the transaction was provided by Sovereign Capital and Lloyds.
Carl Swanbury, Partner at Ryecroft Glenton Corporate Finance, said: “David and Caroline, with the support of their management team, have built a respected business and this deal will enable the company to grow as part of a wider group with support from Sovereign Capital. Under the continued stewardship of David and Caroline the business will prove to be a valuable part of a larger UK education staffing business.”
David Jones, Managing Director of Just Teachers, said: “We have established a trusted and reliable service for UK schools delivered by experts in the sector, which will benefit Synarbor Group’s ambitions to build a truly national business. This is an exciting development for Just Teachers as the enlarged business will help strengthen our position in the market, whilst accelerating future growth. We very much look forward to working with Robyn Johnstone and the wider team at Synarbor”
Robyn Johnstone, CEO of Synarbor Group, said: “Just Teachers is a highly complementary acquisition that will support Synarbor Group’s strategy to create a market leading education staffing business. Synarbor Education and Just Teachers will together be the cornerstone of the Group, which will further enhance the company’s existing UK presence.”