Institutional sponsor currently in fund, targeting cash generative businesses with strong governance. Looking for apprenticeship & skills training providers within education & training with repeat revenues and a defensible market position. Investor is currently in fund with committed capital for near term execution. Prior investments include regulated and operational businesses, with governance strengthened post acquisition. Structure can be pragmatic provided financial reporting, contracts and working capital dynamics are transparent. Looking for a practical handover with sensible seller support where required. North American buyer targeting.