Estio doubles turnover following Palatine investment
Estio Training has doubled turnover and headcount since receiving investment from Palatine Private Equity in September 2018.
Since the deal, which was the third from Palatine’s £100m Impact Fund, Estio has become a nationwide apprentice provider, growing the number of learners on their training programmes from 800 to nearly 1,300. Headcount has increased to more than 200, with the opening of its Birmingham facility adding 38 jobs.
Estio is aiming to double in size again next year, rolling out its services more widely into the Midlands and South of England. The firm has forecasted revenues of £20m, with an estimated 2,500 learners expected to enrolled in its training programmes in the next 12 months.
Greater emphasis has been placed on responsible growth since the business was backed by Palatine. By increasing the focus on sustainable initiatives, the business has managed to achieve its growth whilst reducing the impact it has on the environment. In the last 12 months, the firm has halved the mileage completed by its trainers and skills coaches, saving £36,000 on fuel costs alone. This has been replaced by a greater number of remote coaching sessions, while the firm’s sites in Leeds, London, Manchester and Birmingham have been strategically positioned to reduce commute times.
Estio has continued to strengthen its Board through Palatine’s introduction to investment expert Tim Farazmand who has joined as Chairman at the business. Tim has more than 30 years’ experience in mid-market private equity, having worked with 3i, Royal Bank of Scotland Private Equity and LDC. Lee Meadows, who was previously the company’s commercial director and co-founder, has been promoted to CEO.
Beth Houghton, Partner and Head of Impact at Palatine Private Equity, said: “Estio has demonstrated outstanding growth figures in the nine months since our investment, and has the potential to make an enormous difference to bridging the UK IT and digital skills gaps. We are delighted to support Lee and his team with these achievements.
“Estio’s focus on social inclusion, diversity and accessibility to education and high-quality training programmes underpins the positive impact it has on society. The business is ideally placed to receive Palatine Impact investment and we look forward to the exciting opportunities ahead.”