Palatine invests in E-Days

The deal is the second investment from Palatine's £100m Impact Investing Fund, which held a final close in September. In August, the vehicle made its maiden deal by backing electrical training provider Trade Skills 4U.

Financial details of the latest transaction remain undisclosed, though the fund invests in businesses requiring equity tickets of less than £10m, with a focus on delivering positive social impact.

Following the deal, E-Days will invest in product development and marketing activity.

Company
Founded in 2005, Nottingham-headquartered E-Days develops HR software for managing employee absences owing to sickness. According to a statement, the product is designed to help companies promote well-being and identify underlying trends to preempt future absence.

Its clients include Canon, Ladbrokes Coral, Sony Music, Axa, Lloyds Banking Group and British Cycling.

People
Palatine Private Equity – Beth Houghton (partner); James Gregson (investment director); Tom Hustler (investment manager).
E-Days – Steve Arnold (CEO).

Advisers
Equity – Clearwater International, Carl Houghton, Richard Ellis (corporate finance); BDO, Chris Heatlie, Rob Dawes (financial due diligence); CIL, Tom Fletcher, Mike Hallett (commercial due diligence); The Quinn Partnership, Mike Stiles (management due diligence); Gowling, Ragi Singh, Victoria Pearson, Stephen Bowman (legal).
Vendor – UHY Hacker Young, Simon Browning (tax).
Management – Browne Jacobson, Mark Hughes (legal).

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• Topics
• Expansion
• UK / Ireland
• Technology
• United Kingdom
• Palatine Private Equity
• Social Impact