Training Force expands training offering with R65m Prisma acquisition
In a deal worth some R65-million and which remained subject to the achievement of profit targets over a three-year period, Workforce Holdings subsidiary and accredited training provider Training Force has acquired mining training service provider Prisma Training Solutions.
Training Force believed the addition of Prisma to its service offering would allow the company to grow its portfolio of services and revenues in the mining sector.
Funding would be through the issuance of R5-million of Workforce shares to vendors, with a balance in cash over a three-year period.
All jobs at Prisma would be retained after the acquisition, with key management having signed service contracts to ensure the continued success of the business, which would operate as a standalone company under the Training Force umbrella.
Established in 2007, Prisma offered technical training in mining, team development and supervisor development, having completed training projects for mining companies including South32, Anglo Coal, De Beers, Anglo American Platinum, Kumba Iron Ore, Swakop Uranium, Lanxess Chrome Mine and Koidu Holdings, in South Africa, Namibia, Botswana, Ghana, Sierra Leone and Tanzania.
“The Prisma acquisition allows us to diversify further, in line with our strategy of adding depth to our service offering, expanding our geographic reach and following through on our promises to investors that we would grow the company through organic as well as acquisitive growth,” commented Workforce Holdings CEO Lawrence Diamond.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation