YPO Agree deal of £50m for Findel Education.
The Facilities Management Procurement specialists and public sector buying organisation YPO based in Yorkshire have announced there is a agreement in place to expand their client base with the purchase of a supplier of resources and equipment to schools in the UK and overseas for £50m.
Studio Retail Group has agreed a deal to sell Findel Education to YPO.
Accrington-based Studio Retail said the company’s revenue had declined in recent years, down from £125.8m for the 52 weeks ended 1 April 2011 to £82.1m in 2018/19.
The deal is expected to simplify the group’s operations and allow its management to focus on the Studio Business. Some of the sale proceeds will be used to make contributions to the Group Pension Scheme.
YPO who have a 13 strong committee of joint public sector founder member authorities established to aggregate demand and generate buying efficiencies.