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18 November 2018
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Interserve acquires welfare-to-work business

4 May 2012

Interserve has acquired Business Employment Services Training (Best), a provider of training and development for job-seekers and employers, for £17.5 million.


“The acquisition increases Interserve’s delivery of front-line services, particularly in the Department of Work and Pensions’ Work Programme, and forms part of the company’s strategic development as a key public service provider,” according to an Interserve statement.
 
Best’s annual revenue is £17 million which generates operating profit of £3 million.

Its gross assets are valued at £2 million, noted the Interserve statement.

Managing director Michelle Manson and operations director Andrea Cook will remain with the business following the acquisition’s completion.

Best operates across South Yorkshire and West Yorkshire, an area whose 100,000 businesses employ around three million people. The unemployment rate stands at 8.7 per cent, similar to the national average.

Best delivers services in government-sponsored programmes, the majority of its business being related to the Work Programme.
 
Interserve is already involved in the Work Programme through its Rehab Jobfit joint venture which has contracts in Wales and the south-west.

“This acquisition expands Interserve’s participation in this area of key government policy and enables it to use Best’s capabilities for further development in related areas,” the statement noted.