The business specialised in providing plumbing, electrical, gas and green energy training.

It operated out of 13 centres in Birmingham, Bristol, Cardiff, Devon, Essex, Leeds, Livingston, Central London, Manchester, Merseyside, Newcastle, Nottingham.

But the failure of the Green Deal to deliver left OLCI Construction Training running at a financial loss and in April the firm was hit with a winding up petition.

Senior managers at OLCI were forced to call in Allan Graham from KPMG Restructuring who was appointed administrator on Tuesday 6 May.

Immediately on appointment, the administrators sold the business to a group that includes Wolverhampton building services training firm, Engineering Real Results.

All 77 employees transferred to the purchaser as part of the deal, which will also ensure that studies are not disrupted for over 3,000 current students enrolled on courses.

Allan Graham said: “After suffering an extended period of financial losses, OLCI was unable to meet its commitments to creditors and in early April had a winding-up petition presented against it.

“The directors took the decision that insolvency was unavoidable and consulted KPMG to help find a solution that would best protect the interests of students, creditors and employees.

“KPMG conducted an accelerated sales and marketing campaign and the pre-pack sale secured ensures the best outcome for all parties.”