Acquisition of specialist training company adds depth to the Workforce group’s training division

Press release: 11 July 2018, Johannesburg: Workforce Holdings Limited (“Workforce”) (JSE: WKF), has acquired The Dyna Group, comprising of a number of training businesses, with effect from 1 June 2018. The maximum purchase consideration is R79 million, depending on profits achieved over a 3 year period.

The Dyna Group is an award winning provider of leadership, management and supervisory training courses. It boasts branches in Cape Town and Windhoek, as well as franchises in Johannesburg, Durban and Port Elizabeth. Its training programs consist of proprietary accredited and non-accredited courses that are positioned just below formal business qualifications offered by tertiary educational institutions. The business follows a B2B model and also offers learnerships to corporate clients. The Dyna Group has a broad range of customers, including numerous blue chip listed and non-listed companies. Approximately 2 000 people are trained by the Dyna Group annually.

As a highly regarded training provider in its particular niche, this acquisition allows Workforce to further expand its training offering. This is consistent with the company’s previously stated growth and diversification strategy. The acquisition introduces a profitable, market leading training business with both a well-known brand and a capable,
entrepreneurial management team into the Workforce group.

Workforce’s Training cluster now comprises Training Force, Prisma Training Solutions, KBC Holdings and the Dyna Group. Each of these entities provide specialised, niched training offerings to both general and specific industries. All are highly regarded participants in their respective markets.

Workforce is growing its Training cluster both organically and by acquisition in order to further diversify the group’s earnings and revenue base. In the previous financial year ending 31 December 2017, Workforce’s Training segment contributed 17.6% to the group’s EBITDA. This acquisition will further increase the Training segment’s EBITDA
contribution going forward.

Commenting on the rationale for the acquisition, Ronny Katz, CEO of Workforce adds, “The Dyna Group expands the current training offering of Workforce, which is aimed primarily at blue collar employees, by offering workplace relevant and career progressing training. It represents a further entry by Workforce into the training of white collar employees. In addition, this complementary offering provides both Workforce and the Dyna Group with exciting cross selling opportunities.”

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