Mumbai-based Core Projects & Technologies Ltd has acquired the UK-based education solutions firm ITN Mark Education Ltd for a total consideration of $25 million. Core Projects has bought the firm through its subsidiary Core Education and Consulting Solutions UK Ltd.
ITN Mark Education, a provider of teachers and teaching assistants, has a topline of $33-$35 million and current EBIT margins of around 12 per cent. The company has been acquired from Ochre House Ltd, the recruitment outsourcing and talent management business backed by NBGI Private Equity.
Established in 1990, ITN Mark Education services around 1,600 schools from 16 locations across England and Wales. The company provides schools with qualified staff when they are in need of hiring. Headquartered in Manchester, ITN Mark Education has approximately 3,600 teachers and 1,300 teaching assistance vetted and available for work.