The new owners will be Walsall College and the sale includes the land, buildings and business, with all 17 staff members being transferred over.
The deal is part of CITB’s Vision 2020 programme to hand over direct training to alternative providers.
CITB can then “focus on delivering improved skills outcomes for all construction employers across Great Britain.”
Braden Connolly, CITB Director of Products and Services, said: “Walsall College is an excellent Further Education provider with a strong track record and links to employers all over the region.
“This landmark agreement will secure a bright future for high quality construction training provision for industry in the Midlands, with commitments to maintain and develop existing training and with no redundancies from the sale.
“It also marks the first of our four National Construction College facilities across the country to be sold to an alternative training provider, as part of our programme to reform CITB to better serve the sector for the future.”
Jatinder Sharma, Walsall College’s Principal and Chief Executive, said: “This acquisition takes the college in a new direction for which we are ideally situated. It utilises our expertise in key areas, while enabling us to increase the level and breadth of our provision.
“Construction and infrastructure are priority areas for economic recovery in the West Midlands.
“The emphasis really must be on how we widen our support for local employers and their workforces; ensuring they access the right skills to accelerate the pace of these new builds and redevelopments.
“We look forward to getting started.”