TTC Group acquires Business Driver Fleet Risk Management
TTC Group, a leading provider of driver and cycling education in the UK, has strengthened its position by acquiring Business Driver for an undisclosed sum.
Based in Richmond, West London, Business Driver is an existing competitor of TTC within the UK driver training market, offering a range of services to companies aiming to reduce fleet running costs by minimising work-related driver incidents. These include company risk assessments, driver risk assessments, licence checks, online and in-vehicle driver training.
Founded in 1993, TTC offers the national speed awareness courses as well as a full suite of driver risk management services, compliance and driver education courses across the UK. The company has since grown to employ over 100 staff, and handles nearly 500,000 clients across 250 UK training venues per year.
Palatine Private Equity’s Midlands office invested in TTC in July 2017. The firm backed Jim Kirkwood, Managing Director, in a deal that would allow the business to expand its geographical reach and grow the corporate driver training division.
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 for this. 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 Business Driver said:
“Since founding Business Driver back in 2009, we have enjoyed rapid growth with a number of key fleet clients to establish Business Driver as a capable and credible provider of corporate products and services across the UK & Ireland. We recognised the value in becoming part of a bigger Group just at the point where more resources can support our growth aspirations. 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 customer base”.
Richard Thomas, Senior Investment Director at Palatine Private Equity, said:
“This transaction marks the first acquisition by the TTC Group, following 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 plan on our initial investment. The acquisition will provide a platform for further accelerated growth as we target additional acquisitions in the future.”
Gateley Plc and Grant Thornton UK LLP in Birmingham advised TTC while Arram, Berlyn Gardner in London, advised the vendors together with Capital Law based in Cardiff.