Unigestion in apprenticeship deal; Level 20 appoints new CEO; KLAR Partners instals new add-on

Unigestion acquired Babington, a UK apprenticeship provider, from RJD Partners.

Good morning Eurohubsters, Nina Lindholm here with Tuesday’s Dealflow.

We might be in the last week before many of us start a little break for the holidays, but we still have some deal news to go through. This morning, we have Unigestion buying a UK apprenticeship and training provider, KLAR Partners adding on to installation company Nimlas Group and Level 20 appointing a new CEO.

Learning. Kicking off with some training related news. Unigestion acquired Babington, a UK apprenticeship provider, from RJD Partners.

Headquartered in Birmingham, England, Babington’s services span apprenticeships, short qualifications and professional training courses. In the past year, Babington supported more than 9,000 learners.

“Apprenticeships are integral to addressing skills gaps and improving employee retention at a time when employees’ careers are ever evolving and talent is in high demand,” said Pieter-Jan Frederix, partner at Unigestion in a statement. “We are thrilled to be partnering with the management team of Babington and support the further investment in products and partnerships, as well as to support a buy-and-build strategy that will propel Babington’s non-levy funded offering.”

To find out what type of contracts Babington has secured recently, check out our full coverage here.

The acquisition of Babington isn’t the only recent training and apprenticeship deal PE Hub Europe has covered. In September, Inspirit Capital signed an agreement with Babcock to acquire its divested Civil Training business and in early November, Palatine exited its investment in Trade Skills 4U to City & Guilds.

Installing. Moving on to the Nordics, KLAR Partners’ portfolio company Nimlas Group acquired Konstel, an electrical installation company in Norway.

Following the acquisition, Nimlas, a provider of technical installation services, will have business operations in Sweden, Finland and Norway with more than 3,500 employees and annual revenues of over €600 million, according to KLAR Partners.

KLAR Partners acquired Stockholm-based Nimlas in 2021. By adding Konstel to the group, Nimlas takes an “important next step” to expand its offering within electrical installations, including digital and energy-efficient services.

“Konstel is a great fit for Nimlas and exemplifies KLAR’s investment strategy to invest in companies providing mission critical services in resilient and growing markets,” said Fredrik Brynildsen of KLAR Partners. “With Konstel as part of Nimlas we are forming a pan-Nordic player that is well-positioned to meet the future needs of the market while also creating an even broader platform for M&A opportunities. We look forward to continuing to support the next leading technical installation company in the Nordics.”

If you’re interested in more deals targeting Nordic companies, read my round-up story about the region here.

Leadership. Lastly, there is an interesting CEO appointment to write about. Level 20, a not-for-profit organisation dedicated to seeing greater participation of female professionals in European private equity, appointment of Gurpreet Manku as chief executive officer. Manku succeeds Pam Jackson, who retires in April 2023, after three years in the role.

Manku joins from British Private Equity & Venture Capital Association, where she has worked for nearly a decade, most recently in the role of deputy director general and director of policy. Her previous roles at the industry body covered sustainability and DE&I initiatives.

Under Jackson’s leadership, Level 20 has made “significant” progress, including the delivery of the first European Gender Diversity Report, which provided data on female representation across the industry.

At the end of November, I attended PEI’s Women in Private Markets Summit, where some panels discussed the importance of diversity within private markets. I wrote about my experience of my first day at the summit in a Dealflow, which you can read here.

That’s it from me. I’ll be writing to you for the rest of the week, as Craig McGlashan has already started his holidays.