Palatine-backed TTC acquires Licence Bureau

The acquisition was backed with funding provided by Santander and HSBC.

TTC made the acquisition to broaden its corporate fleet customer base and strengthen its compliance capability. As part of the transaction, the corporate fleet division of TTC will move to Licence Bureau's base to support the wider group's fleet risk management activities.

Licence Bureau is the second acquisition for TTC following the acquisition of Business Driver in 2019.

Palatine invested in TTC in July 2017, drawing equity from its third-generation fund.

Company
Based in Hemel Hempstead and founded in 2003, Licence Bureau provides licence checking and document verification services for SMEs and large corporates.

People
TTC Group – Kim Kirkwood (CEO).

Advisers
Company – Gateley (legal); Clearwater International Debt Advisory (debt advisory); BDO (financial due diligence); RP Advisory (commercial due diligence).

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