Leeds-based IT training company doubles turnover following private equity investment

Estio Training has doubled its turnover and headcount after investment in September 2018 from the regional mid-market private equity firm Palatine.

Estio Training is a UK’s specialist providers of IT and digital apprenticeships. With investment from Palatine’s £100m Impact Fund, Estio has been able to provide apprentices to companies across the country, and has increased the number of learners on their programmes from 800 to nearly 1,200.

The opening of Estio’s Birmingham office created 38 jobs, and next year they plan to roll out their services more in the Midlands and the South of England. Forecasted revenue is at £20m.

With Palatine’s backing, Estio have been able to focus more on sustainable growth, with regional training centres in Leeds, London, Manchester and Birmingham aiming to reduce commute times for apprentices and skills coaches. They have also increased the number of sessions done remotely to reduce the company’s environmental impact.

Palatine have also recruited investment specialist Tim Farazmand as Chairman at Estio, who has worked in the sector for over 30 years. He joins the recently promoted CEO Lee Meadows, who previously worked as Estio’s commercial director and co-founder.

Beth Houghton, a partner and head of impact at Palatine, said: “Estio has demonstrated outstanding growth figures in the nine months since our investment, and has the potential to make an enormous difference to bridging the UK IT and digital skills gaps.

“We are delighted to support Lee and his team with these achievements.”