Learning Technologies Group finalises non-core disposal

(Sharecast News) - Learning Technologies Group (LTG), the AIM-listed workplace digital learning solutions firm, has successfully completed the disposal of Lorien Engineering Solutions, finalising its exit from non-core assets.

The disposal to engineering consultancy NIRAS Group, first announced in December, will see LTG receive $21.4m. The deal follows the closure of a UK apprenticeships business in January 2023.

LTG is planning on using the proceeds to help ongoing deleveraging and allocate capital to higher growth areas of the business.

Lorien generated $21.2m in revenue last year, equating to around 3% of group sales based on current market estimates.