Since 2019, we’ve invested £7 million into the business, to support an ambitious buy-and-build strategy, which has seen it complete eight acquisitions.
BGF has completed the successful exit of its investment in Operam Education Group. The deal has generated a 2.5x MM return for BGF, which originally backed Operam in February 2019.
As Operam enters the next phase of its growth strategy, Three Hills, a private markets investment firm and certified B Corporation, has acquired a significant minority equity stake in the business. It is investing via its recently launched Impact Fund – an Article 9 SFDR fund, which employs thematic objectives aligned with UN Sustainable Development Goals.
BGF has re-invested alongside Three Hills, and will continue to support the business, as it looks to expand its footprint and develop new service offerings for the education market. In addition, HSBC, Operam’s long-term banking partner, has provided senior debt facilities to support the transaction.
Founded in 2017, by CEO Eddie Austin, Operam specialises in the acquisition and growth of specialist education recruitment agencies — with the mission of creating capacity in the classroom and alleviating staffing challenges across the UK state-funded education sector.
“It’s important to recognise and thank BGF for their support over the past five and a half years. BGF’s ability to provide multiple rounds of funding and flexibility to react to changing market conditions has meant they have been the ideal partner for us, and I am pleased that we will be continuing the relationship. The transaction with Three Hills marks another important milestone for Operam, as we look to accelerate our growth and cement our commitment to the UK education sector.”
Eddie Austin
CEO & Co-Founder of Operam
Over the past five and a half years, BGF has invested £7 million across three funding rounds, to support management’s ambitious buy-and-build strategy. This has seen Operam complete eight acquisitions, establishing the brand as one of the pre-eminent education recruitment groups in the UK.
“Eddie and the team have rewritten the rule book when it comes to buy-and-build, and I am delighted that we have been able to reach this landmark milestone on Operam’s growth journey together. Operam is a great example of the power of patient capital, an entrepreneurial vision, and a market opportunity to do things differently. I have no doubt the business will continue to go from strength to strength with the additional support of Three Hills.”
Rob Johnson
Investor at BGF
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