By Mark Kleinman, City Editor
One of the UK's fastest-growing apprenticeship providers is being groomed for a multimillion pound sale amid a battle among political leaders to pledge support for school leavers.
Sky News has learnt that the owners of Bristol-based Lifetime Training are in talks with prospective advisers about an auction of the company that could take place before the end of the year.
Sovereign Capital, which has owned a controlling stake in Lifetime since 2011, is expected to reap a handsome profit from a sale.
News of its plans comes on the same day that ministers announced that they were ignoring the advice of the Low Pay Commission and recommending a higher-than-expected 20% hike in the minimum wage for apprentices.
That disclosure sparked a hostile response from the CBI, the employers' body, but underlined the extent to which David Cameron is determined to demonstrate that the fruits of the UK's economic recovery are being enjoyed across Britain's labour force.
It comes just weeks after the Prime Minister urged companies to pass on the benefits of the falling oil price in the form of wage increases for employees.
Last month, the Labour leader Ed Miliband pledged 80,000 new apprenticeships for 18-year-olds who achieve two A-Levels or a similar vocational qualification.
Tim Thomas, head of employment and skills policy at the manufacturers' group, the EEF, said that changes to apprenticeship funding announced by the Government on Tuesday were "very welcome and an important step forward".
"To make sure it's effective ministers must avoid adding unnecessary red tape and give employers full control of apprenticeship funding as this will be key to providing high quality training.
"Without this, many employers will continue to be frozen out of taking on their first apprentice or deterred from expanding their current apprenticeship schemes."
Mr Thomas said of the increase in apprentices' pay that it was "the right thing to do for manufacturing".
A sale of Lifetime Training by Sovereign Capital will put one of the country's biggest vocational training companies in the retail and leisure sector on the market.
The company trains 15,000 people annually, and counts Greene King, the pubs operator, among its largest clients.
A spokeswoman for Sovereign Capital declined to comment.
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