England’s largest apprenticeship provider has been taken over by its “lenders” amid an investigation that could result in the government demanding over £13 million is repaid.
Lifetime Training had been owned by private equity parent Silverfleet Capital since 2016 but has now been sold to Alcentra – one of the provider’s lenders which specialises in credit management, private credit and structured credit strategies.
Jon Graham, Lifetime Training’s chief executive, claimed the sale is part of the “natural cycle of private equity and puts the business on firm, secure footing for the future”.
