A growing North East education specialist has snapped up a London training firm in a seven-figure deal, sealing its fourth acquisition in a year.
Hebburn based eQuality Solutions Group (eQS), a diversity, equity and inclusion specialist, has acquired Challenge, a London-based training and consultancy business as part of its ‘buy and build’ strategy.
The move accelerates the Tyneside firm’s goal to become the leading UK’s provider of diversity, equity and inclusion solutions, while helping it towards its target of £30m turnover by 2023.
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Founded in 1988 by Femi Otitoju, Challenge Consultancy has built a solid reputation for delivering dynamic training at a global level, and has 41 employees and consultants who will join forces with EW Group, which was also recently acquired by eQS.
Ms Otitoju will move to a founder role within the business alongside Jane Farrell, EW Group founder. The resulting DEI (diversity, equity and inclusion) division will be led by EW Group’s current MD, Rachael Wilson.
Andy Gough, eQS CEO, said: “Challenge has an outstanding reputation in the field of diversity, equity and inclusion and has done incredible work to influence positive change in the workplace.
“There was an instant synergy and alignment of culture and values between the businesses. Through this acquisition we are perfectly placed to deliver a full suite of evidence-based DEI solutions across our three key verticals of education, business and government and adapt to the ever-changing needs of these sectors.”
Ms Otitoju said: “The deal with eQS was perfect timing. Andy, Rachael, Michael and the leadership team at eQS are passionate about influencing positive change within the world and their ambition to be the leading global provider in DEI strategies and to make the world a more inclusive place, really stood out.
“eQS has a proven track record in delivering industry-leading disability solutions and we have always seen EW Group as a like-minded pioneer in DEI. I am confident that the market will respond positively to the combination of two of the strongest players in the sector, and to the greater capacity and expertise the wider Group will now offer.
“The Challenge Consultancy team all identify as black, Asian or minority ethnic or LGBTQ+ or as disabled people – resulting in all trainers and consultants bringing direct, lived experience of diversity and equity issues. Most of us are also active in our communities, as volunteers, board members and campaigners and we bring the same passion that inspires us in these areas to the work we do with Challenge Consultancy.
“Our training is both challenging and fun. We have an established global client base – many of whom have been clients for more than 10 years. Our track record demonstrates the change we have created in multiple sectors including higher education, media and both public and private sectors.”
RG Corporate Finance advised eQS on the acquisition and legal advice was provided by Ward Hadaway LLP. Gunnercooke LLP provided legal advice to Femi Otitoju.
The company has been on the acquisition trail since December 2020 when it secured a £20m funding package from Shard Credit Partners.
The Challenge Consultancy deal follows a series of recent acquisitions – including the purchases of South West-based Amano, as well as the acquisition of EW Group and The Educational Guidance Service (EGS) – and further acquisitions are in the pipeline.
