BTS GROUP AB, announced that it has completed the acquisition of AVO Vision, a leading South African-based company focused on corporate learning and development as well as community–worksite education.
AVO Vision operates in the communication, learning and development and connecting space. The company empowers clients by giving them the tools necessary to become powerful leaders and communicators, accelerating individuals’ growth.
AVO Vision’s core offering includes programs designed to support and further build people’s leadership, management, self-mastery and sales execution skills. The company’s client-base primarily includes employees in corporate blue chip companies as well as senior leaders in government looking to improve their knowledge in these core areas.
“We are very excited about the acquisition of AVO Vision. The company has a track record of strong performance, high quality and deep presence across large parts of Africa. This fast-growing continent with its huge market for talent development presents a strategic opportunity for our new combined BTS & AVO Vision organization,” says Henrik Ekelund, President and CEO, BTS Group AB.
“Building and delivering learning and development solutions that empower people with the skills and insight to make better choices and live bigger lives, and being brave enough to take on challenges at a scale that makes a significant impact in South Africa and beyond is our mission” says Jules Newton, CEO and Founder, AVO Vision. “Becoming part of a global, highly successful company like BTS is a fantastic opportunity for me and my staff to take our vision to the next level”.
Information about the acquisition:
BTS Group is taking ownership of AVO Vision through a non-cash transaction by assuming responsibilities for all matters of the Avocado Business such as employment contracts, customer contracts, office lease and liabilities. AVO Vision will be consolidated as of January 1, 2015.
AVO Vision will remain a separate entity and become a subsidiary of BTS South Africa. The reason why AVO Vision will be kept as a subsidiary is based on their strong brand in the region and leading Black Economic Empowerment Rating.
AVO Vision is anticipated to be profitable and produce revenues of approximately 12 MSEK during 2015.