JHP Group, a provider of vocational education programmes, has been sold in a management buy-out led by CEO Jim Chambers. The terms of the deal were not disclosed.

Coventry-based JHP operates a national network of 57 centres and services more than 3,000 clients including the Ministry of Defence, RBS Insurance and Barclays.  

The deal was backed by LDC, the private equity division of Lloyds Banking Group, which invested £30 million for a significant majority stake, while Yorkshire Bank provided a £26 million package of senior debt.

The funding will enable the company to take advantage of acquisition opportunities in the skills and training services sector, as well as continue its organic growth strategy.

Chambers said: 'We have delivered significant growth over the past few years as a result of increased commitment in the public and private sectors to tackling employment issues and skills gaps in the UK economy.'