Private equity firm invests in speed training group

Birmingham-based Palatine Private Equity has invested in a Telford business which provides road user and cycling education courses in the UK.

TTC Group, founded in 2000 by Graham and Jenny Wynn, provides national speed awareness courses as well as a full suite of other driver training, compliance and education courses across the UK.

Having won its first police force contract in 2006, the company has grown to work with 11 police forces across the country. It has also expanded its offering with the addition of cycling training courses which it introduced in 2013 following the acquisition of Cycle Experience, a provider of National Standard Cycling Courses.

The company currently employs 123 staff and handles 330,000 clients annually across its 200 training venues in the UK.

The deal sees Palatine back current managing director Jim Kirkwood and his team, and is the second investment from Palatine’s Midlands office within the past 18 months.

The transaction was introduced by EY Corporate Finance in Birmingham, which advised the group’s shareholders.

The investment will help the group’s expansion into a number of areas, one of which is the development of the corporate driver training division.

Graham and Jenny Wynn will retain an ongoing interest in the business.

The Palatine team comprised of partner Tony Dickin, investment director Richard Thomas and investment executive James Painter.

Mr Thomas, Head of Midlands at Palatine Private Equity, said: “We look forward to supporting TTC in continuing to deliver high quality training to its existing customers, in addition to, building upon its position in the corporate driver training market. Having already made a number of acquisitions, TTC’s buy and build strategy will be an important element of the on-going growth plan.”

Mr Kirkwood said: “I am delighted to be working with such a proactive and supportive investor in Palatine. The existing TTC business provides an excellent platform for growth and investment.

“Our ambition to innovate and succeed is naturally taking us into complementary and adjacent markets where new technologies bring a wealth of opportunity.”

Palatine, which also has offices in London and Manchester, was advised by Catalyst Corporate Finance, Gateley and RSM with due diligence provided by Grant Thornton, Fairgrove Partners, Global Counsel, Marsh and The Berkeley Partnership.

The vendors were advised by EY Corporate Finance with legal advice provided by Blake Morgan. Debt facilities were provided by Santander Corporate and Commercial Banking.

Neil Meredith, Corporate Finance Partner at EY, commented: “Jenny and Graham saw the need for a training offering to educate drivers and cyclists in the UK and have built a highly successful business that has made a real difference to road safety in the UK over the past 20 years.

“Bringing Jim into TTC will see the business continue its ethos of offering the best service across the public sector, as well as expanding into the corporate training market. It has been a pleasure working with them both and I wish them all the best for the future.”

Jeremy Harrison, Partner, Catalyst Corporate Finance, added: “TTC is at the forefront of driver education and improving road safety. It is therefore a particular pleasure to have supported Jim Kirkwood, Andrew Strong and Palatine on their recent investment.  With a growing presence in the corporate market and the potential for future acquisitions, we look forward to continuing to support the team deliver their plan for growth.”

As well as Jeremy Harrison, James England and Chris Bates worked on the deal.