Reading: Spectrum Corporate Finance raises investment for The Training Room

Corporate finance adviser Spectrum has initiated and led the £18 million fund raising in a £30m transaction, to support the future growth of The Training Room (TTR), one of the UK’s leading providers of vocational training and accreditation for gym instructors and personal trainers.

LDC provided the investment alongside TTR founder and CEO Jonathan Davies, who will retain a significant shareholding.

Established in 2006 and headquartered in Poole, Dorset, TTR operates fitness-industry-recognised training programmes from 16 training academies that are strategically located in key cities across the UK. The business has more than 100 employees and trained nearly 3,000 people over the past year.

TTR has experienced significant growth in recent years as a result of strengthening relationships with national gym chains and its specific focus on web-led sales. The business is now well-positioned for future growth, with annual turnover of nearly £9m and EBITDA of circa £3m.

The transaction will provide the capital required to accelerate the continuing growth of the business, by introducing new training areas and disciplines into TTR’s product offering and expansion into international markets.

The deal was transacted by Spectrum managing director Clive Hatchard, with support from Michael Holgate.

LDC’s investment was led by Alastair Weinel with support from Alex Snodgrass and Matt Kenny.

Davies commented: “Spectrum’s help in securing the investment for TTR in its next stage of its development was invaluable. They provided real hands on advice throughout the process and really understood the business to ensure they brought in the right partner for both me and the business.

"Fund raising can be a long, challenging process and it was great to have the Spectrum Corporate Finance team alongside us to anticipate and resolve issues as well as ensure we had some fun along the way.”

Hatchard said: “Jonathan has created a unique vocational training model with strong internet-based lead generation supported by high-quality trainers across the country and a loan offering ensuring affordability for the student. The business has grown substantially to become market leader in only seven years and the additional investment will ensure it continues this impressive growth.”

Weinel commented: “Clive and the Spectrum team were great to work with on this deal. They supported Jonathan and his team throughout the deal process with their usual ‘hands-on’ practical, commercial approach and a very high level of partner involvement. From an LDC perspective it was a pleasure to have a sell-side adviser who solved problems so pro-actively and we look forward to working together again in the future.”