Sovereign Capital’s portfolio company Paragon has acquired specialist childcare training provider Platinum Training & Development. The deal has been supported by a senior debt funding package from HSBC.
Sovereign has known Platinum since 2008 and has followed the business’s strong financial performance.
Based in Dudley, with branches in Derby and Newcastle-under-Lyme, Platinum’s 80 staff deliver childcare apprenticeships for young people across the Midlands, covering a broad range of topics from imaginary play to special needs and supporting literacy and numeracy.
The acquisition will extend Bournemouth-based Paragon’s geographic reach into the Midlands and complement its existing apprenticeship courses, which include automotive, marine, engineering, elderly and child care, financial services, hairdressing, catering, retail and business administration.
Paragon has increased the number of apprenticeships by 44 per cent over the past year, with particular success in the care and motor training divisions.
“Platinum has built a strong reputation as a quality service provider in the Midlands market, which is reflected in the significantly higher than average achievement rates amongst its learners,” said Ryan Robson, managing partner at Sovereign Capital.