Gresham backs 7city Group

Gresham Private Equity, a UK mid-market private equity firm, has backed a management buyout of 7city Group, a global training providing servicing financial institutions.

No price was disclosed, but Gresham principally invests in deals valued at up to £100m. Its most recent deal, the management buyout of food retailer West Cornwall Pasty Co, was for approximately £30m to £40m.

The Royal Bank of Scotland provided debt facilities for the 7city Group investment.

7city Group co-founders Jonathan Shaw, Gil Christie and Paul Shaw led the buyout in order to accelerate the future growth of the business.

Established in 2000, the business delivers courses to more than 20,000 delegates each year, both in the classroom and through distance learning solutions.

7city group has more than 110 employees based at training centres in London and New York, with a third centre due to launch in Singapore in 2008.

Gresham’s other investments in the business support sector include Swift, SThree and Tribal Group.