Following a five-year investment in financial services training provider 7city Learning, Gresham Private Equity has sold it to Fitch Group for an undisclosed amount.
The firm, which has four regional bases, first became involved with 7city Learning when it supported the company’s management buy-out (MBO) in December 2007.
That deal was led by co-founders Jonathan Shaw, Gil Christie and Paul Shaw and gave 7city Learning the capital it needed to build out its London and New York sites and develop its training programmes.
7city Learning now has bases in Singapore and Dubai and will be used by Fitch Group to expand the range of services it provides. According to a statement, the business now earns over a quarter of its revenue from outside Europe.
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Paul Shaw, CEO of 7city, comments, ‘Gresham’s support has been invaluable in guiding our international expansion and encouraging us to be brave in our growth plans despite the demanding economic environment.
‘Together, we have built a great business that has a strong platform for further growth and we look forward to continuing our development with Fitch.’
While Gresham’s sale of the financial services training provider has been made for an undisclosed amount, but the firm says that the disposal represents a ‘strong exit’.
Simon Hemley, partner at Gresham, says that 7city is a ‘fantastic example’ of a business which has achieved ‘impressive’ growth despite challenging economic conditions.
‘[This is] thanks to a clear strategy, innovative new services catering to client demand and a strategic internationalisation programme,’ he adds.