A Tyneside education specialist is embarking on a growth strategy on the back of a management buyout and a £20m investment package.
Andy Gough, chief executive of Hebburn based eQuality Solutions (eQS), has triggered expansion at the business after completing an MBO and securing the investment package from London-based Shard Credit Partners.
He will use the finance package to fund acquisitions as part of plans to treble revenue over the next three years through a rapid ‘buy and build’ strategy.
From its base in Hebburn, the business employs 40 staff with 80 consultants operating nationwide, providing assistive technology equipment, training and its own software solutions that help to remove barriers to learning.
The business was launched 14 years ago and has experienced rapid growth over the last three years, with revenues and adjusted Ebitda expected to top £7m and £2m respectively next year.
Mr Gough said: “eQS is the number one provider in this specialist and vitally important sector. We are confident, from the platform already established, we can grow the business across the 海角视频 and take advantage of the many new opportunities we see ahead.”
Mr Gough has successfully run eQS for the past three years alongside CFO, Michael Hall, who was previously FD of Maxim Facilities Management.
They are joined by non-executive chair Neil Stephenson, who is best known as the former CEO of North East-based internet provider Onyx Group, with founder Chris Quickfall retaining a minority stake in eQS and joining the board with a focus on strategy.
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Mr Gough said he sees the opportunity to build eQS into a large ed-tech business with a focus on inclusivity and mental wellbeing, something that is significant to his personal life.
He said: “This is an area close to my heart as I have two children with hidden disabilities.
“The investment we have secured from Shard will allow the business to continue its ambitious growth plans, providing specialist technology and services designed to help people, which will also result in significant job creation.”
Shard Credit Partners CEO Alastair Brown said: “This is an organisation on a positive growth trajectory driven by an experienced and talented management team and we are delighted to support its development with a £20m funding package to enable this change of ownership, but equally significantly, a platform for further organic and acquisition-driven expansion. The specialist services offered by eQS are vitally important to increasing societal inclusivity and we are looking forward to being part of its exciting future.”
The eQS management team was advised by Carl Swansbury and Rhiannon Nightingale of RG Corporate Finance, with tax advice from Simon Whiteside of RG Business Tax.
Legal advice was provided to the MBO team by Ward Hadaway, led by corporate partner Tom Pollard. He was supported by corporate solicitors Liam Stubbs and Hollie Walsh and debt advice was provided by partner Imogen Holland.
Mr Quickfall received tax advice from EY and legal advice from Square One Law, through a team including corporate partner Marie-Louise Bozonet, senior associate Luke Philpott and head of corporate Mark Lazenby. Shard Credit Partners were advised by law firm Gateley and RMT.