Dains provides due diligence services on the merger between Open College and AIM
Derby-based AIM Qualifications and Assessment Group merges with Open College Network West Midlands.
The two organisations, both based in the Midlands, merged on the 1st September 2022 and now operate under the AIM Qualifications and Assessment Group name. The merger means that colleges, centres, and training providers now have access to almost 600 regulated qualifications for their learners, and employers will have an expanded network of support when looking for an end-point assessment organisation for their apprentices.
Recently, AIM has become recognised as a specialist in the delivery of end-point assessments for apprentices. It works with employers across the UK to assess their apprentices on a range of creative, cultural, and professional services standards.
Both organisations have come together from a position of financial strength and the strong financial foundation provides an opportunity for the new organisation to re-invest significantly into its stakeholders and staff.
Roy Farmer and Rob Wilson undertook financial due diligence on AIM Qualifications and Assessment Group on behalf of Open College Network West Midlands.
Our work included a review of the historic financial performance and compliance with FRS102, as well as a quality of earnings review, normalised working capital, and surplus cash/net debt calculations.
What we said
Rob Wilson, Corporate Finance Director at Dains Accountants, said: “It was a pleasure to work with Open College Network a long-standing client of Dains, and we were delighted to support them in this merger. We have established a strong understanding of the industry within which Open College Network operates.”