Paragon extends training expertise with acquisition of Platinum

Sovereign Capital, the UK private equity Buy & Build specialist, is pleased to announce the acquisition of specialist childcare training provider Platinum Training & Development ("Platinum") to further expand Paragon's training activities into Early Years Care.

Established in 2002, Platinum is based in Dudley with branch offices in Derby and Newcastle-under-Lyme.  The company's 80 staff deliver mainly 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. 

Sovereign has known Platinum since 2008 and has followed the business's strong financial performance, the increasing success rates amongst its apprenticeships and its growing network of nurseries in the region. 

The acquisition extends Bournemouth-based Paragon's geographic reach into the Midlands and complements its existing apprenticeship courses that include; automotive, marine, engineering, elderly and child care, financial services, hairdressing, catering, retail and business administration.  Paragon has enjoyed significant growth under Sovereign's ownership, having increased the number of apprenticeships by 44% over the past year, with particular success in the care and motor training divisions.

Commenting on the acquisition, Ryan Robson, Managing Partner at Sovereign Capital said: "We are very pleased to be able to add such a highly regarded Early Years Care training provider to the Paragon Group.  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.  We look forward to extending Platinum's expertise throughout the Paragon Group and continuing our focus on this Government priority funding area."

Platinum vendor Mark Bremner, who will be joining the broader Paragon management team as Business Development Director, added: "Sovereign's knowledge of the training market and experience of the Early Years Care sub-sector made them a natural partner for Platinum.  We are excited by the growth opportunities that the broader Paragon Group can introduce us to, both geographically and strategically through this combined product offer."

Gavin Freed, Chief Executive of Paragon said: "By bringing Platinum into the Paragon Group we have enhanced the Group's ability to deliver a range of training programmes for both learners and employers throughout the Midlands and the South. Platinum's excellent reputation in the Early Years Care sector is a welcome and complementary addition to our continuing focus on high quality skills training."

The transaction has been supported by a senior debt funding package from HSBC.