Emerald Group, the Yorkshire-based provider of research and learning resources, has acquired Mind Tools, the digital learning and performance support company, to help increase its market share.
Emerald, which is based in Bingley, West Yorkshire, was established in 1967 and has a presence in 130 countries.
Peter Casebow, CEO of Emerald’s corporate learning division, said Mind Tools was a perfect fit for Emerald.
Emerald said that thousands of corporate and individual learners in 180 countries subscribed to Mind Tools’ resources
Mr Casebow added: “We already provide a leading performance support solution in the business user market. Together with Mind Tools, we can provide the best experience to customers and users, whether they’re accessing our resources at work or as part of learning in their everyday lives.”
The co-founders of London-based Mind Tools, James and Rachel Manktelow plan to step away from the business and pursue other interests.
Mr Manktelow said: “We are very pleased and proud to see Mind Tools join Emerald.
“We started Mind Tools because, as managers ourselves, we struggled to find resources to help us develop our own careers. Over the past two decades, together with our team of wonderful and talented people, we’ve built a solution and resources that help millions of people thrive at work. With Emerald, Mind Tools has found a great new home for the next phase of its growth.”
Mind Tools’ CEO, Ollie Craddock, will join Mr Casebow on the Emerald board.
Following the acquisition, Emerald Group has a total turnover of around £60m and employs 500 staff around the world.
The shareholders of Mind Tools were advised by KPMG and Eversheds Sutherland.
Emerald was advised by IBIS Capital and DLA Piper with funding support provided by Barclays and HSBC.