Private equity firm Sovereign Capital has backed the management buy-out of STL, a regional provider of apprenticeship and adult learning.

Private equity firm Sovereign Capital has backed the management buy-out of STL, a regional provider of apprenticeship and adult learning.

The buy-out team was led by managing director and founder Adrian Holmes and operations director Michelle Rigby, who both retain a stake in the business post-completion. The undisclosed funding, which includes debt from HSBC, will be used to finance the expansion of STL’s operations on a national level.

Sheffield-based STL provides apprenticeship training for 16 to 24-year-olds through a regional network of offices serving Nottinghamshire, Derbyshire and South Yorkshire. It employs more than 170 people.