Refinancing deal at Pitman means exit for 3i

TRAINING company The Pitman Training Group has undergone a management-backed refinancing deal.

The company, which has its head office in Wetherby, West Yorkshire, aims to establish more overseas operations after receiving an £100,000 capital injection.

The company is best known for helping students learn shorthand, typing and book-keeping.

Private equity investor 3i, which backed a management buyout of Pitman in 1998, has now exited the company following the refinancing deal.

Pitman is now entirely owned by its directors.

It employs 30 staff in Wetherby and 100 franchise partners.