TTC Group

Case Study

Facilitating TTC Group's management buyout

TTC Group is the leading driver risk management and road safety training provider in the United Kingdom.

At a Glance

Taking the business to the next stage

TTC Group, a leading driver risk management provider in the UK, was looking to facilitate a management buyout. In May 2021, we provided a one-stop funding solution to support this transition led by TTC’s CEO, which simultaneously provided full liquidity to the exiting institutional shareholder and allowed TTC’s management team to take a majority ownership position. TTC chose us as a financing partner because of our long-term and relationship-focused approach and experience in supporting management-led growth with strategic input.

Relationship since 2021

Transaction details:

Senior Debt
Subordinated Debt
Minority Equity

“As a management team we see significant opportunity to scale TTC into new markets, and are delighted that PGIM shares this vision. We look forward to executing our exciting business plan to take the business to the next stage with them as our new investment partner.”

Jim Kirkwood CEO, TTC Group

<p>“As a management team we see significant opportunity to scale TTC into new markets, and are delighted that PGIM shares this vision. We look forward to executing our exciting business plan to take the business to the next stage with them as our new investment partner.”</p>

The Full Story

Facilitating a management buyout

TTC Group is the leading driver risk management and road safety training provider in the UK. Based in Telford, 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, as well as delivering national speed awareness training courses on behalf of Police forces.

TTC is a highly professional business with strong relationships across both public and private stakeholders, with a talented and ambitious management team who have driven significant investment in digital technology. Through transformational acquisitions and development of a proprietary technology platform, TTC Continuum, TTC’s corporate division has grown from a handful of clients to now working with over 2,800 businesses across the UK, enabling companies to assess risk, personalize required training intervention, monitor behavioral changes among drivers and demonstrate a clear return on investment.

In May 2021, we provided a one-stop funding solution to support a management buyout led by CEO, Jim Kirkwood, which simultaneously provided full liquidity to exiting institutional shareholder, Palatine Private Equity, and allowed TTC’s long-standing and highly experienced management team to take a majority ownership position.

We were chosen as the partner to support TTC’s management in the next phase of the Company’s growth because we bring a long-term and relationship-focused approach, experience in supporting management-led growth with strategic input, as well as the capacity to deploy a broad range of private capital solutions.

We provided senior debt, subordinated debt, and preferred loan notes to facilitate the MBO. Akin Gump represented us as counsel. GCA Altium advised on the transaction and Gateley provided counsel for Palatine, with Osborne Clarke and Liberty CF advising management.