At Gail Khan Associates, we specialise in guiding Multi-Academy Trusts (MATs) through the intricate process of merging with another trust. With our in-depth knowledge of education, governance, and strategic leadership, we support you at every stage of the journey, ensuring a smooth and successful merger.
Merging MATs requires careful navigation of legal and regulatory requirements, aligning governance structures, managing financial considerations, and unifying educational visions. We understand the complexities this brings, especially for leadership teams focused on the ongoing management of their schools. Our experienced team is here to provide the expertise and additional capacity you need to reduce this burden, delivering tailored support throughout the merger process.
Whether you’re considering a merger to strengthen your trust or responding to external factors, we work closely with you to manage the complexities, mitigate risks, and ensure a seamless transition. With Gail Khan Associates you have a trusted partner to help you meet the challenges head-on and achieve your vision for a stronger, more unified trust.
In early 2023, Cavendish Learning Trust (CLT) began considering a merger with a larger trust as a strategic move to support their growth and development. After receiving a list of potential Multi-Academy Trusts (MATs) from the Department for Education (DfE), CLT sought the expertise of Gail Khan Associates (GKA) to conduct a two-stage options appraisal and due diligence process. The goal was to create a shortlist of suitable MATs to approach for further discussions regarding a potential merger.
Stage 1: Options Appraisal and Longlist Reduction
GKA led the forensic intelligence gathering necessary to evaluate the potential trusts and create a strategic recommendation. The process involved:
- Data Collection and Analysis: GKA conducted a thorough analysis, ensuring a comprehensive understanding of each trust.
- Key Lines of Enquiry (KLOE): Six critical areas were identified to guide the review, including trust locality, governance, vision and values, performance, finance, and reputation.
Using this framework, GKA began evaluating the longlist of 30 MATs initially shared by the DfE. In consultation with CLT’s Project Group (which included Trustees) and Executive Team, a broad reduction criterion was applied, which included:
- Excluding trusts with more than 20 academies to maintain cultural integrity.
- Removing trusts with fewer than 6 academies, as smaller trusts may lack the capacity to support CLT’s school improvement journey.
- Eliminating trusts that were not cross-phase to ensure they could support all educational phases.
This approach reduced the longlist from 30 to 14 trusts. Exceptions were made where local intelligence suggested a trust should still be considered, even if it did not meet all criteria.
Stage 2: Shortlist Development and Initial Contact
GKA continued its detailed evaluation of the 14 shortlisted MATs using the six KLOEs. This process was designed to provide a robust understanding of each trust’s governance, performance, financial health, and overall alignment with CLT’s values. GKA then discreetly contacted each trust to assess their interest in a potential merger.
The top-scoring trusts were contacted to gauge their appetite for growth. Those that expressed openness to further discussions were shortlisted for the next stage. At this point, the MATs contacted were unaware of the identity of the trust GKA was representing, ensuring confidentiality and strategic discretion.
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Selection of Minerva Learning Trust
Following the detailed options appraisal, Minerva Learning Trust (MLT) was identified as the preferred partner for CLT. GKA then facilitated further discussions and supported CLT in evaluating MLT as a merger candidate.
Detailed Due Diligence: Minerva Learning Trust
Once MLT was identified as the preferred partner, GKA conducted an in-depth due diligence exercise to ensure the strategic fit. This process covered:
- Education performance and school improvement initiatives.
- Financial health and governance structures.
- HR, H&S, estates management / compliance, IT infrastructure, safeguarding practices, and GDPR.
GKA’s due diligence confirmed that MLT’s governance, vision, and capacity aligned with CLT’s strategic objectives, paving the way for the merger.
Detailed Due Diligence: Cavendish Learning Trust
After both parties resolved to proceed with the merger, GKA was commissioned by MLT to conduct detailed due diligence on CLT. A comprehensive 131-page report was submitted to MLT’s board in December 2023. This report provided insights into CLT’s performance in education, HR, finance, health and safety, estates, IT, safeguarding, GDPR, and governance.
Post-Due Diligence: Project Management and Merger Delivery
Following the successful due diligence, GKA continued its involvement by project managing the entire merger process. This involved navigating the complexities of bringing together two organisations with distinct cultures and systems. GKA took charge of coordinating legal requirements, ensuring full compliance with regulations, and managing communications with key stakeholders, including the respective Boards.
By acting as the central liaison, GKA ensured that the merger progressed smoothly, managing risk, addressing concerns, and maintaining momentum towards a successful integration. This also included working closely with DfE Officers, legal teams, overseeing stakeholder engagement, and ensuring a cohesive transition plan that aligned with both trusts’ strategic goals.