Wragge & Co LLP's Private Equity Team has completed a £46.5 million management buyout of Protocol Skills for Close Brothers Private Equity (CBPE).

Protocol Skills is of one of three national vocational training providers in the 'work-based learning' market. It provides apprenticeships and NVQ training to around 15,000 learners per year and vocational skills training, predominantly to the retail and hospitality sectors.

The team led by partner Ian Piggin, included corporate director Julian Smith, associate Jon Tilley and a cross-firm team comprising banking and finance director Chris Gayle, tax partner Kevin Lowe and head of transaction services, Graham Spalding. Taylor Wessing acted for the seller. Lovells acted for Barclays, the funding bank.

Ben Alexander at CBPE said: "We are delighted to have been advised by Wragge & Co and receive the quality of advice we have come to expect over a number of successful transactions that we have completed with their support."

Ian Piggin said: "This was an exciting deal for CBPE. Over the years we have established ourselves as a trusted advisor in the private equity mid-market and will continue to support CBPE in their investments."

CBPE is a leading player in mid market UK private equity, managing funds totalling €1 billion on behalf of institutional investors from the UK, Europe, Middle East and US. Established in 1984, it invests in transactions with a value of between £20 million and £120 million. Wragge & Co has a long-standing relationship with CBPE, advising on its £93 million MBO of global pharmaceuticals developer and manufacturer Rosemont Pharmaceuticals and the £28 million MBO of CanDu Entertainment Group.

The Wragge & Co's Private Equity Team is a single pool of experts delivering expert legal advice and commercial solutions to mid market investors in London and nationally. Its clients include many key players in private equity and venture capital including CBPE, 3i Group, Lloyds Development Capital, NVM Private Equity, Electra Kingsway, Dunedin Capital Partners, Isis Equity Partners and Octopus Private Equity.

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For further information about this press release, contact Kathryn Hobbs on +44 (0)121 213 2397, Alexa Highfield on +44 (0)121 213 2396 or Amie Ryalls on +44 (0)121 213 2360

This press release may contain information of general interest about current legal issues, but does not give legal advice.