We have advised Three Hills on its strategic investment from its dedicated Impact Fund in Operam Education Group (Operam), one of the UK’s leading providers of education recruitment solutions. Three Hills has invested alongside the management team and existing investor BGF which retains a minority stake. This transaction supports Operam’s mission to scale and address the staffing needs of schools and educational institutions nationwide and create learning capacity in the classroom.
Founded in 2017 by its current CEO Eddie Austin, Operam specialises in the acquisition and growth of education recruitment agencies and high-value service offerings, providing staffing solutions to state schools faced with the greatest need for flexible resources. The Group has grown rapidly since its inception, driven by the successful implementation of a buy-and-build strategy, with eight acquisitions completed to date.
As part of the transaction, Three Hills will work closely with Operam’s experienced management team to cement the Group’s position as a clear market leader by driving further organic expansion. The transaction also provides significant further capacity for M&A. In this context, Operam will continue to actively target outstanding education recruitment agencies that are regional leaders and providers of other high value service offerings to schools.
The deal provides a successful partial exit for BGF, who originally backed Operam in February 2019, and provided funding over multiple rounds to support the first phase of management’s ambitious buy-and-build strategy. BGF will remain a significant minority shareholder in Operam and will work alongside Three Hills to help deliver the next stage of the company’s growth plan.
The transaction also highlights Clearwater’s leading position in the education recruitment sector, as well as its relationship with Three Hills as it executes its impact-focused investment strategy. Three Hills’ dedicated Impact fund (qualifying as Article 9 under SFDR), was launched earlier this year to support middle-market businesses that are commercially successful and mission-driven. Operam represents the fund’s second strategic investment, following its earlier investment in AgriFood technology provider Hispatec.
