BGF exits school staff supplier
Private equity firm Three Hills has bought Operam Education Group, an education resourcing business which has offices in Nottingham and provides temporary teaching and support staff to schools across the United Kingdom.
The deal marks an exit for investor BGF.
Founded in 2017 by its current CEO Eddie Austin, Operam specialises in the acquisition and growth of education recruitment agencies.
BGF originally backed Operam in February 2019 and has provided funding over multiple rounds to support the first phase of management’s buy-and-build strategy. BGF has reinvested in Operam and will work alongside Three Hills to help deliver the next stage of the company’s growth plan. To support the transaction, HSBC, Operam’s banking partner, has also provided senior debt facilities.
Pablo Vélez, partner at Three Hills, said: “We are excited to partner with Operam, an award-winning company that is both commercially successful and deeply committed to making a difference in the education sector. Operam’s strong leadership team, its established buy-and-build model, and its mission of supporting schools in underserved areas, align perfectly with our impact-driven investment thesis. We look forward to helping Eddie and his team expand Operam’s reach and impact through both organic growth and targeted acquisitions.”
Austin added: “This partnership with Three Hills marks an important milestone for Operam as we look to continue our growth journey and commitment to the UK’s education sector. Three Hills’ extensive experience and resources will be invaluable as we expand our service offerings and geographic footprint, allowing us to better support schools and students across the UK. Together, we are well-positioned to take the business to the next level while staying true to our mission of improving educational outcomes for the communities we serve.
“It’s important to recognise and thank BGF for their support over the past five and a half years. BGF’s ability to provide multiple rounds of funding and flexibility to react to changing market conditions has meant they have been the ideal partner for us, and I am pleased that we will be continuing the relationship.”
Rob Johnson, investor at BGF, said: “Eddie and the team have rewritten the rule book when it comes to buy-and-build and I am delighted that we have been able to reach this landmark milestone on Operam’s growth journey together. Operam is a great example of the power of patient capital, an entrepreneurial vision and a market opportunity to do things differently.”
He added: “I have no doubt the business will continue to go from strength-to-strength with the additional support of Three Hills.”
