The management buyout of Now Education has been shortlisted in the 'Deal of the Year (£10m- £50m)' category at this year’s Insider Midlands Dealmakers Awards.

Shaw & Co provided corporate finance advice on the deal which was supported with institutional investment of £14m from Prefequity LLP and valued the business at £28m.

Headquartered in Birmingham, Now Education is one of the UK’s leading suppliers of staff for primary, secondary and SEND schools across England and Wales. The deal saw Gary Redman (previous majority shareholder and CEO) move to the role of Chair, and Johnny Carew Pole, Partner at Prefequity LLP, join the company’s board of directors.

Founded in 2010, Now Education supplies around 1,600 supply staff to more than 800 schools per week across England and Wales. It recruits in more than 20 regions and has permanent offices in Birmingham, Cardiff, Leeds, Lincoln, Liverpool, London and Nottingham. Comprising a team of nearly 40 consultants and ten back-office support staff, 95% of its business is from contract revenue with more than 75% of placements six weeks in length or longer.

Freeths provided legal advice to the management team on the deal while Wilkes and Ward Hadaway provided legal advice to Gary Redman and Prefequity LLP respectively. Additional support for working capital was provided by Lloyds Bank via its invoice discounting facility.

Jim Shaw, Founder and CEO of Shaw & Co said: “The Midlands comprises an array of fantastic businesses and extraordinary talent so it’s particularly pleasing to see one of our deals being nominated for such a highly regarded award.

“I would particularly like to thank the team at Shaw & Co who have had an extraordinarily successful 12 months. They have consistently demonstrated their skills and expertise, be it in acquisition and exit strategies, securing finance for growth projects, or selling a business. Good luck all those on the shortlist!”

The ceremony takes place on Thursday 12 September at the Hilton Birmingham Metropole. See here for further details.

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