EDUCATION PERSONNEL MANAGEMENT ("EPM") - UPDATE

We invested in EPM in 2012 alongside the incumbent management team. EPM is the UK's leader in providing HR and Payroll services to the education sector.

With the growth in academies, EPM has expanded significantly since our investment and is now servicing over 1,200 schools across the UK. We have recently strengthened the team with the appointment of a new Operations Director and EBITDA has grown from £800k to a run-rate of £2m under our ownership.