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TTC Group has been sold by Palatine Private Equity to the company’s management team with investment from Pricoa Private Capital.
Almost two thirds (65%) of the risk management, compliance, and road safety training provider will become management and employee owned under the new funding arrangement with the remaining 35% held by Pricoa.
Jim Kirkwood, CEO of TTC Group, told
Fleet News that part of the reason for parting ways with Palatine Private Equity and linking up with Pricoa Private Capital, the private capital business of Prudential Financial, was access to capital.
“Palatine has been a great supporter of the business over the past three-and-a-half years, but as the business was getting bigger, we wanted to do more, we wanted to put our foot on the accelerator,” he explained.