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Newcastle's PTM to continue scaling up with £750k investment

Newcastle-based training provider PTM Group has revealed plans to take on new staff and expand its office space, after receiving a £750k investment from fund management company FW Capital.

Enjoying record year on year growth for the past three years, the company expects its revenue to surpass the £10m mark in the next 18 months as it continues to scale up.

A group of training businesses under one banner, PTM delivers vocational training through government-funded apprenticeships and traineeships, alongside higher level taught qualifications for upskilling and re-training.

FW Capital was supported on the deal by Newcastle-headquartered law firm Watson Burton, which managed the legal aspects of the project and provided advice on the investment documentation.

The Watson Burton team was led by corporate specialist Paul Wigham, partner at the firm, whilst PTM was supported by Newcastle-based TIG Corporate Finance.

Jamie Paterson, group managing director of PTM Group, said: “The investment from FW Capital will help the business to continue its high growth trajectory in a sustainable way. FW Capital has really worked well with us to ensure that the investment was for the right amount and one that was sensible for us as a business.

“Over the next two years our aim is to be delivering qualifications to 2000 people per year throughout the UK and this investment will play a key part in supporting PTM Group in reaching this goal.”

Paul Wigham added: “We were delighted to provide legal services to FW Capital in its investment in PTM Group, a group of companies which is set to become a powerhouse in the education and training sector – and whose services already make a huge difference to learners throughout the UK.”

Companies included in PTM include: NCT Skills, which provides apprentices to employers in the construction sector; 180 Training, which focuses on engaging with adults who want to re-train; Winnovation Training, which offers more than 100 social care and health courses; JEF-CEP, a Joint Enterprise between the British Army & NCT Skills For Life which delivers an introduction to the construction industry; and The Academy of Sound and Vision, which provides opportunities for young people in music event logistics.

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