Finance Package Funds Expansion for QTS
27th August 2008
A Wirral-based vocational training provider is expanding with backing from Alliance Fund Managers (AFM), through the Merseyside Special Investment Fund (MSIF) Small Firms Fund.
QTS, based in Birkenhead, provides extra curricular training to 14 – 19 year olds, many of who have dropped out of the education system. Courses include engineering, construction, vehicle repairs and health and safety and all result in a recognised qualification.
The company’s recent expansion has seen it open a second 12,000 sq ft site which is fitted out with state-of-the-art machinery and equipment and will be used to deliver all training programmes.
QTS, which was set up in 2003 by directors Robert Mains and Mike Hughes has raised a funding package which includes a loan from AFM through the MSIF Small Firms Fund together with support from NatWest Bank. It is the second time AFM has backed the company.
Director Rob Mains said: “The new premises are really well equipped and mean we can extend our training facilities to more youngsters and adults.”
“Many of the pupils who attend our courses are from disadvantaged backgrounds and have dropped out of school. By providing them with the opportunity to learn practical skills to enable them to work in a trade many of them go on to full time employment.”
“We are working with local schools and the Local Authority to deliver a pilot scheme for the Foundation Learning Tier which has been developed to give children the option of staying on at school to study for vocational qualifications. If it is successful it will be rolled out in schools across the UK in 2009.
“In addition we now also provide free on site training to youngsters already working but with no formal qualifications so that they can gain these whilst continuing their employment.”
Rob Edwards, portfolio manager at Alliance Fund Managers said: “QTS has built up an impressive reputation for the quality of its work which is evidenced by the over subscription of students for its courses. We are pleased to be supporting the business again and look forward to continuing to work closely with the business through this next exciting phase in its development.”
Turnover is expected to reach £2m over the coming financial year. QTS currently employs 15 staff and expects to take on a further 5 during the next 12 months.
Ends
For further information please contact Angela White at AFM on 0151 242 6376.
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