PeopleCert completes Axelos acquisition
AXELOS is a joint venture company created in 2013 by the Cabinet Office on behalf of Her Majesty’s Government (HMG) in the United Kingdom and Capita plc (CPI.L), to manage, develop and grow the portfolio of global best practice methodologies in project, programme and portfolio management, and IT and digitally enabled services, including PRINCE2® and ITIL®.
The transaction valued AXELOS at £380m (c. €450m / $525m) on a cash-free, debt-free basis. To finance the transaction, PeopleCert issued a €300m senior secured bond due 2026. The remainder of the funds were covered through an equity injection by Peoplecert and FTV Capital.
The acquisition firmly establishes PeopleCert as a vertically integrated, global leader in best practice methodologies that are widely adopted by private, public, and voluntary sectors in more than 200 countries.
‘We look forward to being the custodian of the world-leading professional frameworks that have been developed by the UK Government over the last thirty years. We intend to further develop these under PeopleCert’s stewardship for the benefit of all stakeholders including corporates, governments, academic institutes, and professionals alike. The current portfolio includes several programs – all of which are gold standards in their respective fields.’ said PeopleCert Chairman and CEO, Byron Nicolaides.
Our most important commitment remains, to work collaboratively and transparently with our network – writing together this exciting next chapter. We remain focused to our customer-first and people-centric vision, continuing to always be responsive, flexible & offer high quality products and experiences to our partners and end-users’