Coaching For Change has completed a successful management buy-out (MBO) following a combined £250,000 funding from UK Steel Enterprise (UKSE), HSBC and Finance For Enterprise (FFE).
Established in 2006, Coaching For Change offers individual and operational business coaching, mentoring and training to a range of business sectors, and is on track for rapid growth and expansion that will result in a fifty per cent turnover and workforce expansion in 2018.
Coaching For Change works with organisations such as Network Rail, Rolls Royce, Vodafone and Bosch and has significant global reach with the Saudi Government, Airbus and BAE Systems, to name a few.
The funding element from UKSE, a subsidiary of Tata Steel committed to investing in businesses looking to grow, assisted with the acquisition of Coaching For Change, alongside providing investment for growth.
A team from HSBC, led by Relationship Manager Rebecca Pearce, also provided a funding package worth £110,000 as part of the deal.
Alongside UKSE and HSBC, Finance For Enterprise provided a tailored Enterprise Loan package through the Northern Powerhouse Investment Fund (NPIF), backed by the British Business Bank.
Grant Bowman, the new managing director at Coaching For Change, commented: “I am delighted to have successfully completed the management buy-out of Coaching For Change, and look forward to further developing the company as a world-class business improvement consultancy.
“Ultimately, our clients choose to outsource their business improvement coaching needs to Coaching For Change because they know that we will go the extra mile to ensure that operational efficiency transpires throughout their organisation, and I am excited to lead the organisation as it continues to excel in this thriving business arena.”
Alan Stanley, Regional Executive at UK Steel Enterprise, commented: “Coaching For Change operates in a very competitive sector often dominated by large players and yet has managed to establish itself a growing niche place in this sector since it was established in 2006. We are confident that Grant is well placed to continue the growth trend seen over the last few years.”
Jo Dickinson, HSBC’s Area Director for West and South Yorkshire, commented: “We believe that Grant has the best understanding of how to manage the future of this thriving business and we’re proud to provide financial backing for his MBO. Improving productivity and performance is crucial for UK businesses, and we are here to help Coaching for Change with opportunities to grow both in the UK and abroad.”
Mike Gregg, Investment Manager, Finance For Enterprise, commented: “It’s terrific to see how quickly Coaching For Change has grown and evolved since the management buy-out and they are on track to enjoy a very successful first year, resulting in a significant number of new jobs being created within the local economy. The work we have undertaken with Coaching For Change and our colleagues at UK Steel Enterprise and HSBC illustrates how lenders often work collaboratively to help entrepreneurs realise their potential by providing the funds needed to not only complete the management buy-out, but lay down the foundations for future growth.”