THE DIVESTMENT CAMPAIGN
Our Client – The Vendor
Based in Melbourne, Critical Care Education Services (”CCES”) is a niche training organisation that provides highly specialised, face-to-face post-graduate training programs to healthcare practitioners across Australia. Over its more than 20 years of operation, the Business has solidified its position as one of the country’s leading, national suppliers of hands-on professional development in the field of critical care. Every year thousands of practitioners complete its “open” courses, while over the years more than 300 hospitals, practitioner groups, healthcare associations and tertiary education bodies have also contracted its services for the design & delivery of tailored in-house training & assessment programs.
Critical Care Education Services’s courses are differentiated by the quality of their content, materials and presentations. In addition to being endorsed by relevant industry bodies, both the open short-courses and in-house workshops fulfil Australian healthcare-industry criteria for continuing professional development. In 2017, having built a world-class training organisation, the Vendor sought to exit the Business in order to move into retirement. As specialised mid-market business brokers and with a track record in the RTO space, Johnsons was engaged to undertake a national divestment campaign for a strategic acquirer, who would be prepared to maintain its high standards of service and take CCES to the next level.
The Business Sales Strategy
For potential buyers CCES presented an attractive acquisition opportunity. High levels of repeat business and referrals meant revenue growth was only limited by the current structure and capacity of the Business’s resources. Strong industry relationships, an excellent reputation amongst thousands of healthcare practitioners, and a broad range of unique high-value IP also made the Business an excellent bolt-on candidate. Looking forward a new owner can be assured that future growth will be supported by strong demand drivers for continuing professional education in the Australian healthcare sector.
Johnsons Corporate’s custom research & marketing focused on Australia’s Healthcare Sector, with Specialised Registered Training Organisations as a primary market. Secondary markets comprised a number of other related healthcare segments, including major care providers, professional associations, and specialised staffing providers. Johnsons ran a proactive direct marketing campaign that uncovered +25 qualified, interested parties. Further vetting and negotiations resulted in the selection of a preferred buyer as well as a backup buyer, with Offer and Acceptance secured within 16 weeks of going to market.
(Read more about how using a Specialised Mid-Market Business Broker Approach to selling your business could get you a better outcome – just like our client).
The Synergistic Trade Buyer
Based in NSW, the acquirer, Medcast, is an Australian health professional education company that provides a full range of e-learning solutions and blended courses to clients spanning corporate, government, NGOs and training organisations. The acquisition presented an opportunity to expand its face-to-face offering and diversify into tailored course services.
What Our Client Had to Say
"Right from the outset, Johnsons provided us with the right advice and action plan to navigate the sale process. They were instrumental in locating several potential suitors, as well as being the architect behind the structuring of the transaction to achieve a balanced commercial outcome for both myself and the purchaser. In particular, I was impressed with the skill applied in building rapport with the purchaser and maintaining open and clear communications with all stakeholders throughout the sale process."
Ken Hambrecht, Director - Critical Care Education Services