Firm with South Tyneside base says 40 jobs made secure by £20m takeover

South Tyneside based eQuality Solutions (eQS) says the multi-million management buy-out (MBO) negotiated with London-based Shard Credit Partners forms part of an ambitious new growth strategy, as it looks to multiply revenues in the coming three years.

A spokesperson for the firm stressed the importance of ring-fencing South Tyneside jobs, while other employers in the region shed staff as a result of the pandemic.

The firm says the substantial investment secured from Shard Credit Partners to fund the MBO will provide significant funds for follow-on acquisitions.

The business added that it is “well placed to grow” with ambitious plans to triple revenue over the next three years through a rapid ‘buy and build’ strategy.

From its HQ in Hebburn, the business employs 40 full-time staff with 80 consultants operating nationwide, providing assistive technology equipment, training and its own ‘software solutions’ that the firm says help to remove barriers to learning.

Founded 14 years ago, the business has experienced rapid growth over the last three years with revenues and adjusted earnings expected to exceed £7m and £2m respectively in 2021.

Commenting on the takeover, CEO Andy Gough said: “eQS is the number one provider in this specialist and vitally important sector.

"We are confident, from the platform already established, we can grow the business across the UK and take advantage of the many new opportunities we see ahead.”

RG Corporate Finance head, Carl Swansbury, who advised the Hebburn firm on the takeover, said: “This is a clear signal of the eQS board’s ambition to deliver fast-track growth.”

Shard Credit Partners CEO, Alastair Brown, also said: “This is an organisation on a positive growth trajectory driven by an experienced and talented management team and we are delighted to support its development with a £20m funding package to enable this change of ownership, but equally significantly, a platform for further organic and acquisition-driven expansion.

"The specialist services offered by eQS are vitally important to increasing societal inclusivity and we are looking forward to being part of its exciting future.”

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