Disposal: Learning Technologies Group plc (AIM)
Crowe supported Learning Technologies Group plc (LTG) on its sale of Lorien Engineering Solutions (Lorien) to NIRAS Gruppen (NIRAS) for a cash consideration of $21.4 million. Completion is expected to take place in January 2024, subject to the satisfaction of closing conditions.
Lorien is a full-range engineering consultancy with offices in the UK, Poland and South Africa, providing services ranging from conceptual and predesign all the way through to project management and commissioning within the food and beverage, life science and advanced manufacturing industries. The sale will allow LTG to allocate capital to areas of the business that are more aligned with its core proposition of digital learning and talent management, and to fund future value-enhancing acquisitions.
NIRAS is an engineering consulting firm, headquartered in Denmark, which provides technical design, engineering and project management services for development projects across multiple industrial sectors including food and beverage, life sciences, infrastructure, building, environment, water and utilities. NIRAS has 2,600 employees in 34 countries with 59 offices.
Crowe's role and team
Client quote
“The Crowe team provided excellent service, in-depth insight and support from start to finish. The vendor due diligence process that they delivered allowed us to navigate any issues that arose – and their support and guidance throughout the process was invaluable.”
Jonathan Satchell, Chief Executive Officer, Learning Technologies Group plc
