You are viewing your 1 free article this month. Login to read more articles.
Letts owner Huveaux has sold its e-Learning subsidiary, Epic Group, to a private investor for £4.75m in cash.
The proceeds from the sale will be used to reduce further the bank debt of the group. Epic had contributed an EBITDA of £259,000 to Huveaux in the year ended 31st December 2007.
The sale follows the disposal of the French Healthcare Business earlier this month, and according to a statement released last Friday (13th June), the company board believes that "with much reduced debt, the group is now better positioned to concentrate on its core business segments of politics and education and to drive growth at the high margins that these businesses offer".