Key Facts
Initial Investment: 05/07/2017
Sector: Health & Education
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 secured new contracts with the Northamptonshire, West Yorkshire and Wiltshire forces. Our corporate division has been transformed as a result of the acquisitions and investments we have made, underpinned by our innovative TTC Continuum technology platform.
CEO – TTC
