Investment firm to buy Shropshire's Bedstone College
A Shropshire school is in the final stages of being sold to a large investment group, it has been revealed.
Trustees at Bedstone College, near Bucknell in south Shropshire, have announced that they are nearing completion of the sale of the independent private school to the London & Oxford Group, an asset management and investment banking firm.
But, they say, the governing body and school staff will stay in post in a move that will "safeguard the future of Bedstone College and with it the interests of its students, parents and staff alike".
Jon Fynes, chairman of the board of governors at the school, said: "On behalf of all at the college may I welcome London & Oxford to the Bedstone family and assure all our students, parents and staff of our conviction that this is the start of a bright, exciting and secure future for Bedstone College.
"The vision and values that our founder, Reginald Rees, cherished above all else, will continue to inform everything that we do at Bedstone long into the future."
Headmaster David Gajadharsingh said he was "absolutely delighted" with the news and said there will be little, if any, change in day-to-day management of the school, with London & Oxford Group giving its full support to the current management team at Bedstone.
"It secures the future of the college while allowing us to continue doing what we do so well, bringing out the best in each child through building confidence and self-esteem," he said.
He said all staff will automatically transfer to become London & Oxford Group employees and assured them the sale would not alter the terms and conditions of their employment.
"Rather, it removes many of the uncertainties about the long term position of college and ensures we can focus on looking forward and continuing to educate our students in the way we know best," he said.
“Our family ethos will remain paramount."
Paul Newton, chairman of London & Oxford Group said the firm was introduced to the school by a former parent and the move had the potential to boost student numbers and reap the benefits of past infrastructure investment.
He said it meant that on completion of the sale Bedstone will be loan and mortgage free, with plans for significant immediate and longer term investment.
“Bedstone College has provided outstanding education to its students since its foundation," he said.
"We have been attracted both by the quality of its board of governors, headmaster and staff, and by the college’s high quality infrastructure on which we believe a very successful future can be built.
"We would like to place on record our appreciation for the welcome we have received and you may be assured that we are fully committed to investing in the outstanding education and ethos that Bedstone has been built on," he said.