PORTFOLIO — EDUCATION

TTC

TTC is a leading provider of road user education and compliance services in the UK.

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Key Facts

Initial investment: 05/07/2017

Sector – Education

Fund — Buyout Fund III

Status — Realised

Investment Highlights

  • Helped source and execute both the Business Driver and Licence Bureau acquisitions which significantly enhanced the business’ corporate driver training offering.
  • Introduced a CFO with significant private equity, education and buy and build experience.
  • Significant digitisation within the business, including moving to online course delivery.
  • Successfully developed a proprietary driver risk and compliance platform, Continuum.
  • Revenue growth of circa 50% and profitability more than doubled during our investment period.
  • Successfully exited the business via a secondary management buyout backed by Pricoa generating a 2.7x return

Partnership Motivation

We were excited to partner with TTC given the strong public and political support for driver rehabilitation and increased road safety. We were impressed by the talented and highly experienced management team with a robust business model to deliver significant growth. The management team had a track record of making acquisitions and had identified the opportunity to broaden the product offering in what remained a fragmented market.

“The partnership we have enjoyed with Palatine has been highly successful over the last four years, based on a close, collaborative and supportive relationship. Together we have achieved a huge amount as we professionalised the business, investing significantly in digital technology and recruiting a talented and ambitious management team.

We have enhanced relationships with our major stakeholders in our Police business and our corporate division has been transformed as a result of the acquisitions and investments we have made.”

Jim Kirkwood
CEO, TTC

Investment Team