Acquisition adds drive to fleet management group’s growth plans
Shropshire fleet management company TTC Group has boosted its position in the marketplace by acquiring Business Driver Fleet Risk Management for an undisclosed sum.
The deal is designed to extend the Telford based company’s geographic reach and market share in corporate driving training and combine both firms’ expertise in offering services aimed at reducing fleet running costs by minimising work-related driver incidents.
These include company risk assessments, driver risk assessments, licence checks and online and in-vehicle driver training.
Founded in 1993, TTC offers the national speed awareness courses as well as a full range of driver risk management services, compliance and driver education courses across the UK.
It was backed by Palatine Private Equity’s Midlands office in 2017 and, since then, the company has grown to employ over 100 staff and now handles nearly 500,000 clients across 250 UK training venues every year.
Jim Kirkwood, CEO at TTC Group, said: “With an established business already operating in the UK, this acquisition solidifies our position in the corporate driver training and risk management market.
“We were keen to expand our product portfolio and accelerate growth of this division and Business Driver proved to be an excellent platform to do just that. The company shares our ambition to provide greater compliance, reduce costs and improve road safety and we are confident that this acquisition will help us become a vendor of choice across all aspects of future mobility.”
Seb Goldin, CEO at West London-based Business Driver, added: “Since founding Business Driver back in 2009, we have enjoyed rapid growth with a number of key fleet clients helping establish us as a capable and credible provider of corporate products and services across the UK and Ireland.
“We recognised the value in becoming part of a bigger group at exactly the point where more resources can assist our growth aspirations. Importantly, this will further support our customers and we look forward to combining our respective services with those of TTC to deliver an enhanced proposition to our combined client base.”
Richard Thomas, senior investment director at Palatine Private Equity, said: “This transaction marks the first acquisition by TTC Group following our investment in its new management team and infrastructure.
“Palatine has significant experience in buy and build strategies and we saw this as an important aspect of TTC’s growth plans on our initial investment. The acquisition will provide a platform for further accelerated growth as we target additional acquisitions in the near future.”
Gateley and Grant Thornton in Birmingham advised TTC while Arram Berlyn Gardner in London advised the vendors, together with Capital Law based in Cardiff.
