As Ntec directors have explained in their covering note I am writing to you as an important Ntec stakeholder
to introduce myself and announce the creation of Aspire2 group which has acquired ownership of Ntec.
Aspire2 will include the following Private Training Enterprises (PTEs)
• Cornerstone – NZ Tertiary Education Group
• Ntec – National Tertiary Education Consortium
• Queens Academic Group
• Safety ‘n Action
• Solomon Group
All of the PTEs which make up Aspire2 are already making an important and successful contribution to
tertiary education and training in New Zealand and Aspire2 will build on that solid foundation.
Aspire2 will be governed by an experienced board of directors led by Mark Wilson who is a partner in Archer
Capital, the new majority shareholder of Aspire2. Archer Capital is a one of the oldest and most successful
private equity managers in Australia. In my role as Chief Executive I am supported by Peter Crossan, CFO
and an experienced management team.
Sam Malafeh will continue in his role as CEO of Ntec which will run as usual following the transaction
completion so your day-to-day contact with the business will be unchanged. I am also available to you to
answer any questions you may have. We will shortly be making a public announcement of the transaction
and a copy of the embargoed release is attached for your information.
Aspire2 is well positioned to participate in the growth of this important sector of our economy and I look
forward to maintaining and growing our partnership with you to build Aspire2 into a leading educational
provider with a continued commitment to the provision of high quality educational programmes to its
students.
Kind regards