Reading Solutions
Advisers to educational technology business, Reading Solutions, on its management buyout.

The deal
We’re pleased to have acted as lead Corporate Finance adviser to Reading Solutions, an educational technology business, on a management buyout that sees the exit of Micheal Walker from the Managing Director role.
Reading Solutions, founded by Micheal and established in 2014, works with schools across the United Kingdom in supporting the development of children’s reading and is targeting expansion into the UAE. Reading Solutions is now under the leadership of Ian Fitzpatrick, who joined the business shortly after its inception in 2014. Micheal and Ian have since worked together to spearhead the national growth of the firm and its flagship product, online reading development programme, Reading Plus.
Ian now takes over the Managing Director role from Michael, who will remain in the business as a consultant in the short term. Plans are in place to further grow the Team Valley business and its 30-strong team, targeting more schools nationally as well as increasing its use in English-speaking schools in the UAE.
Our Corporate Finance team led by Phil Williams managed and supported the transaction from beginning to end, working closely with the shareholders and with other specialist advisers.
Phil Williams, Partner at FRP Corporate Finance, said: “We’ve been impressed with Ian’s determination to drive the business forward in the UK and to add to that success by breaking into a new global market. We worked closely with him to understand his vision and are delighted to be able to support him in achieving this through his MBO of the business.”
Ian Fitzpatrick, Managing Director at Reading Solutions, said: “The UAE is also an exciting market for us. We have an excellent partnership with Safa British school in Dubai, as they follow the British curriculum. So, we look forward to collaborating with more British schools in this area to improve students’ reading outcomes.
“Mike and I have been working towards my transition to MD for a while now, so it’s great that it has formally happened. We’ve got a great team and culture, everything is in place for us to move forward, and I’m grateful to the team for their expert support.”

Deal summary
Date:
October 2022
Sector:
Education
Deal type:
Selling a business
Deal size:
Undisclosed
Related team
