Orbis complete sale of training programme group to Rescare Inc
BUSINESS OVERVIEW
Biscom Resource Management Limited is a highly regarded firm providing a range of training programmes and job procurement solutions for the unemployed or otherwise disadvantaged people to secure employment. It also provides continued support to ensure the individuals retain employment and progress in their service. Biscom primarily acts on behalf of government bodies such as JobCentre Plus (“JCP”) or the Learning and Skills Council (“LSC”).
Orbis provided us with excellent advice throughout the process and were relentless in their determination to achieve the best outcome.
Kate Edwards, Biscom Shareholder
OUR ROLE
Orbis acted as lead adviser to the two shareholders of Biscom.
Biscom operates in a market governed by public sector bodies which is facing a tremendous amount of change. Biscom secured a number of the new contracts from both the LSC and the JCP and as a result the Business was growing very rapidly. The shareholders recognised that in order to ensure the continued growth of the Business the Company required a larger Business to provide additional resources both in terms of financial leverage and strategic input and direction.
Due to the fragmented nature of the market there were few competitors who would be able to afford an acquisition of a Business the size of Biscom. Orbis undertook detailed research drawing up a list of potential acquirers located in Europe, Australia and the USA. There were a number of US businesses providing workforce development services who were very keen to enter the UK and European markets.
In December 2007, ResCare Inc completed the acquisition of Biscom. ResCare is a US$ 1.3 billion (£641m) turnover business based in Louisville, Kentucky. The company has bought Biscom to gain a foothold in the UK and European markets.
