Learning Technologies Group finalises non-core disposal
Learning Technologies Group
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16:40 26/04/24
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Learning Technologies Group (LTG), the AIM-listed workplace digital learning solutions firm, has successfully completed the disposal of Lorien Engineering Solutions, finalising its exit from non-core assets.
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The disposal to engineering consultancy NIRAS Group, first announced in December, will see LTG receive $21.4m. The deal follows the closure of a UK apprenticeships business in January 2023.
LTG is planning on using the proceeds to help ongoing deleveraging and allocate capital to higher growth areas of the business.
Lorien generated $21.2m in revenue last year, equating to around 3% of group sales based on current market estimates.