New era for learndirect as it is bought by LDC

24 Oct 2011

by: Margaret Snell

Learndirect has been bought by LDC, the private equity arm of Lloyds Banking Group, in a £40m deal that marks the start of a new era for the organisation.

LDC has bought learndirect by acquiring its parent, Ufi, from the Ufi Charitable Trust (UCT).

According to LDC the deal will give learndirect the flexibility to compete more effectively in the wider marketplace.

Since its launch in 2000, learndirect claims to have helped more than three million people to gain skills and qualifications in areas such as maths, English and IT via its national network.The deal will provide investment and backing to support the development of the learndirect business.

Sarah Jones, learndirect chief executive, said: "The sale of Ufi Ltd and its learndirect brand is the beginning of a new era for training provision in the UK. We are a commercial company operating in a competitive industry. As a leader in online learning, we have developed valuable expertise and experience, which gives us a strong platform for growth and a fantastic consumer brand.

"The change in ownership will allow us to reach more businesses and learners with a wider range of products and services, while continuing to deliver excellent training and raise standards across the sector."

Whilst Ufi Ltd. will now trade as learndirect, UCT will continue to administer the endowment created by the sale. John Weston, UCT Chairman, said: "UCT will use the endowment created by the sale to assist in achieving a step change in adult learning and employability. There is massive potential for e-learning to drive business and boost economic performance, and over coming months we will be commissioning a strategic programme of projects to fully unlock that potential."

 

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