Workforce wraps up Chartall acquisition


Workforce wraps up Chartall acquisition

Published Date: 2020-02-11 | Source: Stephen Gunnion | Author: Stephen Gunnion

Workforce wraps up Chartall acquisition

The services holding company says its training cluster will make a bigger contribution to future revenue and earnings.

Workforce Holdings has finalised the acquisition of Chartall Business College as it diversifies into niche markets and grows its e-learning offering. It will pay up to R34.9 million for the business, depending on its financial performance this year.

Workforce is listed on the JSE's AltX board and is the holding company for a number of businesses focused on staffing, training, healthcare and wellness. Chartall was set up in 2012 by Kevin Boyers and Karen Deller and provides education and training to the corporate market, with a focus on the financial services industry. It is registered with the Department of Higher Education and Training as a Higher Education Institution and a private Further Education and Training college and is also fully accredited with BANKSETA. It uses online platforms for its training.

Workforce said the acquisition would help diversify its revenue base and boost its Training Cluster's contribution to group earnings.

Its shares have gained 15% since it first announced the deal on 21 January. They didn't trade yesterday, closing unchanged at R1.72.

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