The business will be combined with its Fitch Training unit to form Fitch 7city Learning. The sale represents a “strong” exit, the firm said, and was around £90m, according to a source familiar with the deal.
Headquartered in London with operations in New York, Singapore and Dubai, 7city is a training provider servicing the financial services industry.
Simon Hemley, partner at Gresham Private Equity, said, “7city is a fantastic example of a business that has achieved impressive growth despite challenging economic conditions thanks to a clear strategy, innovative new services catering to client demand, and a strategic internationalisation programme.
“Gresham has a focus on partnering with high-growth companies like 7city and supporting their development into industry-leading businesses. We have worked closely with the management of 7city, helping the business realise its full potential and it is now well positioned to embark on its next stage of growth.”
Gresham is a specialist UK lower mid-market growth investor, focusing on management buyouts of companies typically valued up to around £100m. In 2012 Gresham completed two exits, two new investments and eight bolt-ons within the portfolio.
In December AltAssets reported that Gresham had hired fund advisory newcomer Rede Partners to place its fifth fund, which is expected to come to market this year.
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