Business Driver based in Richmond, West London, offers 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. 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 grown to employ over 100 staff, and handles nearly 500,000 clients across 250 UK training venues per year.
Palatine Private Equity invested in TTC in July 2017, in a deal that would allow the business to expand its geographical reach and grow the corporate driver training division. This transaction marks the first acquisition by TTC Group following Palatine’s investment in its new management team and infrastructure.
Capital Law advised the vendors of Business Driver. Philip Barratt, Senior Associate, led the transaction on behalf of Capital.
Philip Barratt said:
It’s been great to work with Seb on this transaction. Business Driver is a growing business and this deal will give it a platform for further development. The experience we have within the Private Equity team at Capital Law as a consequence of acting for a range of investors, vendors and investee companies means that we are well placed to provide pragmatic and commercial advice to vendors on transactions such as this.
Seb Goldin, Founder and Chief Executive of Business Driver, said:
We have enjoyed rapid growth since founding Business Driver and we recognised the value in becoming part of a bigger group at exactly the point where more resources can assist our growth aspirations. We have never been involved in a private-equity backed transaction and the support of Phil and the Capital Law team in helping us to navigate our way through the transaction was invaluable. Phil took the time to understand the business, what was important to us as sellers and what we were trying to achieve from the transaction, and in that context was able to adopt a pragmatic approach and provide helpful advice to us.
The Private Equity team at Capital Law has a wealth of private equity experience, which helps us provide practical, commercial advice at every stage of the investment life-cycle to the investors, management teams, vendors and investee companies we work with. The team were shortlisted for Regional Legal Advisor of the Year in the 2019 Real Deals Private Equity Awards, which recognise the best in European Private Equity.
