Member Article

Newcastle's PTM lands £300k funding to expand training ops

Newcastle-based PTM Group has announced it will expand its workplace training operations, following a £300,000 investment from NEL Fund Managers.

An organisation with subsidiary businesses covering quantity surveying, project management and vocational training, PTM supports the construction industry through its NCT Skills arm.

NCT is currently supporting the development of around 160 apprentices across the North East through working with a range of industry partners, building up an annual turnover of around £3m.

PTM has also recently set up a new division, 180 Training, which focuses on retraining and upskilling adults with a view to getting them back into employment, and its surveying arm is looking to grow its presence in the North East’s booming student accommodation development market.

In order to have the working capital in hand to take advantage of market opportunities for each of its businesses, the PTM management team has turned to regional fund management firm NEL Fund Managers to bring in a £300,000 Growth Fund investment.

Part of the capital has been used to help recruit senior staff who will help to drive the business’s development, with well-known finance professional Simon McIntosh coming in as the Group’s finance director, and Ian Wood and Patricia Wilkinson, who both have vast experience in the vocational training sector, have joined as directors of 180 Training and NCT Skills respectively.

Ten new jobs have been created by PTM over the last year, to take the total number of people employed across the Group to around 30, and more new position are expected to be created as the business expands.

Jamie Paterson, co-founder of PTM Group, says: “The focus that’s grown up in recent years around vocational training and skills development has opened up commercial opportunities on which we’ve been able to capitalise very well, but we know there is a lot more potential in NCT Skills and 180 Training businesses for us to realise.

“Having this working capital behind us will mean we can go after the best opportunities available to us over the medium and long-term, rather than just working in the short-term on projects that we can afford to undertake at that moment.

“Having the right senior staff is crucial in making this happen as efficiently and effectively as we can, and Simon, Ian and Patricia all bring high-level skills and experience with them that will directly impact on how we implement our development plans.

“We looked at the different sources of capital available in the market, and not only has working with NEL proved to be the right financial option for us, the team’s commercial approach and knowledge has provided invaluable support around honing our structure and business plans.”

Simon Johnson, senior investment executive at NEL Fund Managers, adds: “PTM Group has many strings to its bow, and has clear strategies in place to make the most of every opening available to it which we’ve been very pleased to be able to support through the Growth Fund.”