Clearwater International advises TTC Group on raising acquisition finance
Clearwater International has advised Palatine backed TTC Group on raising debt finance from Santander and HSBC to support the bolt-on acquisition of License Bureau. The strategic acquisition sees TTC Group broaden its corporate fleet customer base and further strengthen its compliance capability within its proprietary technology platform, Continuum.
Telford-based TTC Group provides fleet management and compliance solutions in its corporate division. The business has seen strong growth in the number of drivers on its driver risk management software platform, Continuum. This platform provides the complete lifecycle of compliance, administration and driver risk management services, reducing fleet costs and improving driver behaviour. As part of the deal, the corporate fleet division of TTC Group will move to Hemel Hempstead to support the wider group’s fleet risk management activities.
Founded in 2003, Licence Bureau provides licence checking and document verification services for SMEs and large corporates. The company has one of the UK’s largest corporate fleet client bases, with more than 1,400 companies utilising its services, including over 20% of FTSE 100 companies. From its base in Hemel Hempstead, the company has completed more than four million UK driving licence checks.