Reading and Poole: Spectrum Corporate Finance leads £18 million investment

Reading-based 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 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 provides the very highest qualified personal trainers to the UK’s leading corporate gyms, including gym-operator branded courses for key customers including Fitness First. The business has a unique service offering that focuses on web-led sales and marketing, and almost all of TTR’s students secure a job following completion of a standard six-week course.

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 partner, Clive Hatchard, with support from Michael Holgate.

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

Jonathan Davies, founder and CEO of The Training Room, said: “Spectrum has provided real hands-on advice throughout the process, and their help in securing the investment for TTR's next stage of development has been invaluable.

“Going forward, we intend to increase our rate of growth in training areas and expand into new ones. Our services continue to be well received by the fitness market and we are keen to capitalise on the numerous opportunities that exist for profitable growth.”

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