Transaction Details

May 20, 2021
Birmingham, Manchester

Sector

Technology, Business Services

Deal Type

M&A, Debt advisory, ESG

Deal Team

Jeremy Harrison, Tom Battersby, Gareth Owen, Rashma Begum

GCA Altium advises TTC Group on delivering a successful exit for Palatine Private Equity

GCA Altium has advised the shareholders of TTC Group, the leading driver risk management and road safety training provider in the UK, on the sale of their shareholding to the TTC management team supported by Pricoa Private Capital.

Headquartered in Telford, UK, TTC provides a range of tech-enabled driver risk management, compliance and training services for corporate clients, including major vehicle leasing providers and fleet operators. It also delivers national speed awareness and driver training courses on behalf of 14 police forces in the UK.

The business has developed its own proprietary technology platform, TTC Continuum, which integrates data on an agnostic basis from sources including telematics, connected cameras and other in-vehicle technology, providing fleet operators with a valuable insight into risk and compliance management through real-time dashboards.

Palatine initially backed the management buyout of TTC, led by CEO Jim Kirkwood in July 2017, and will exit with the incoming investment from Pricoa Private Capital. Since investing in the company, Palatine has overseen revenue growth from circa GBP 27m to more than GBP 40m, through a major digitalisation programme and successful buy-and-build strategy, adding new service lines to its rapidly growing corporate business.

TTC has also benefitted from Palatine’s decade-long leadership in ESG. In October 2020, it was awarded the ‘Excellence in ESG 2020’ award as part of the British Private Equity & Venture Capital Association’s (BVCA) Summit 2020 event. These awards recognise and celebrate outstanding ESG practices within private equity and venture capital.

Richard Thomas, Senior Investment Director and Head of Palatine in the Midlands, commented: “Jim and the team have done an outstanding job growing the business organically and by acquisition over the last four years. Much more than this though, they have worked with us to create a more resilient, digitally-focused and customer centric organisation. I would like to extend thanks to GCA Altium on behalf of the shareholders for guiding and supporting us through the transaction.”

Jeremy Harrison, Managing Director at GCA Altium, said: “I am delighted to have supported the shareholders in facilitating the next stage of TTC’s growth story. Having advised the team on the original buy-out, it is particularly pleasing to witness the progress and growth the business has experienced in recent years. With exciting new technology platforms across their business, TTC will make an even greater contribution to road safety in the future. We wish management and Pricoa every success.”

This represents the latest GCA Altium transaction in the tech-enabled business services sector.

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