The company’s bankers, Royal Bank of Scotland, provided additional debt facilities to support the acquisition.
An established software business, Intraventure is a leading provider of talent management systems, which help large enterprises manage the performance and development of their employees.The company works with a number of blue chip companies across the UK.
The business was established by husband and wife team Kevin and Rita Crane in 2001 and has grown rapidly. Both Kevin and Rita will be staying with the combined group.
The acquisition of Intraventure strategically allows e2train to broaden its offering beyond learning management systems and provide an integrated learning, performance and talent management suite to its customers. This will help it support its customers more fully, and accelerate its already impressive organic growth rate.
WestBridge and RBS are delighted to continue to support the e2train management team in this strategic acquisition.
Rob Caul, CEO of e2train Ltd said:
“I am thrilled that we have been able to complete this strategic acquisition. Kevin and Rita Cane bring significant experience of the Talent Management arena and I am delighted they are staying with us to become key members of our team."
John Caines, non-executive chairman of e2train said:
“We have been focused on looking for strategic acquisitions to support and accelerate e2train’s growth since WestBridge made its initial investment in e2train. I am delighted that we have been able to acquire Intraventure as part of our strategic growth plan”
Valerie Kendall, Partner, WestBridge Capital LLP, said:
“This is an important strategic move for e2train. We have been impressed with the performance of the business and the team since our initial investment just over a year ago and are keen to continue to support e2train’s growth ambitions.”
Charles Davey, Director, Structured Debt Solutions, Royal Bank of Scotland said:
“We are pleased to have provided further debt finance alongside Rob Caul’s team and WestBridge to effect the strategic acquisition. e2train continues to thrive in the current difficult business environment.”
Guy Davies, Managing Partner, WestBridge Capital LLP, said:
"e2train is the first investment made by our SME fund. The company’s continued organic growth complimented by the acquisition of Intraventure means that we can already potentially see a significant increase in the value of the company and therefore our investment in it.
"Buy and build is a core part of WestBridge’s investment strategy and a key contributor to our partners top decile investment track record. I am delighted that e2train has completed this transaction."
