Metis Partners and Begbies Traynor help save 7000 students after institute goes into liquidation
The qualification and career prospects of more than 7,000 students in the UK have been saved following a successful intervention by Metis Partners, the Glasgow-based, internationally operating intellectual property specialist, on the instruction of Begbies Traynor in Birmingham.
Metis Partners was brought in when the Institute of Administrative Management (IAM), the oldest management institute in the UK which had been in existence since 1915, went into liquidation, threatening the careers of students at more than 100 IAM-accredited centres.
Following an accelerated marketing campaign and the introduction of new interested parties, Metis Partners successfully sold the intellectual property assets of IAM to Industry Qualifications, a regulated awarding organisation recognised by all four regulation authorities in the United Kingdom.
As a result, Industry Qualifications intends to re-engage the students, who were studying programmes leading to IAM awards when the IAM entered liquidation. They will now be able to complete their qualifications.
Linda Shannon, of Metis Partners, who helped co-ordinate the sale, said: “This is a great result, primarily for the students, but also because IAM, a renowned name in business, will continue in existence into its centenary year.
“All parties involved are happy with the sale and the best possible return was achieved for creditors as Metis Partners opened up this opportunity to the market and professionally identified and highlighted the value in the intellectual property assets.”
The sale hugely enhances Metis Partners’ reputation for expertise in identifying, packaging up and disposing of the largely undervalued intellectual property in professional bodies and membership organisations. Within the last year, it also successfully sold the IP assets of the International Centre for Financial Regulation from insolvency.
For nearly a century, the Institute of Administrative Management had been focused on developing professional administrators, administrative managers and business leaders via its membership services and qualification programmes, which were approved by regulatory authorities.
In recent years it had invested in developing a new range of qualifications. Other assets included the IAM brand, which is internationally recognised and well-known among overseas students; the logo; the website and domain name; qualification supporting materials, including qualification specifications, study guides, handbooks and exam scripts; and databases.
Raymond Clarke, chief executive of Industry Qualifications, said: “The acquisition of IAM will propel IQ into a leading position in the management development and assessment market, and help provide recognised IQ assessment pathways into the Higher Education sector.
“When combined with our current provision, IQ will be able to offer management programmes in subjects from team leadership to senior management and from short programmes to those with a duration of 2-3 years. The new qualifications will provide a major dimension to our International strategy”.
Stephen Roberston, founder and chief executive of Metis Partners, said: “It is particularly gratifying to be able to conclude a sale which is a win-win for everyone!”.
“Metis Partners was able to construct a solution which met the requirements of the liquidator to act in the interest of creditors and also to take into account the interests of the students, who were facing considerable uncertainty over their future.”
Read the story on-line:
Image Credit: Chris Jobling