Geason has over 1,100 apprentices and 500 NVQ learners currently on programmes.

Cash consideration paid on completion amounted to £9 million with net cash assumed of £0.3m. Contingent consideration of up to £26m may be payable in cash based on a multiple of 3.25x EBITA, dependent on the combined performance of Geason and Speedy’s training business in the three years post acquisition.

Russell Down, chief executive of Speedy, said: “This acquisition expands our training services offering and allows us to deliver flexible, progressive training programmes to support customers across the UK. I warmly welcome Ian, Robert and Geason employees to Speedy.”