Apiary Capital has completed a significant investment in First Intuition, a specialist provider of accountancy training to around 5,000 learners via centres in London, Birmingham, Manchester, and through online and hybrid courses.
The investment will support First Intuition’s management team to grow the company’s apprenticeship and commercial training streams, continue its regional expansion and pursue strategic acquisition opportunities.
First Intuition’s apprenticeship and commercial training pathways both lead to qualifications and membership of the four main accounting bodies, the AAT, CIMA, ACCA and ICAEW. Its apprenticeship provision is rated ‘Outstanding’ by Ofsted.
First Intuition is the tenth investment in Apiary’s maiden
TDC provided debt funding in support of the transaction. Apiary Capital was advised Browne Jacobson (legal), Clearwater (corporate finance and debt advisory), CIL (commercial due diligence), DSW (financial due diligence), RSM (tax structuring), GK Strategy (political due diligence) and Lockton (insurance due diligence). First Intuition was advised by EY (corporate finance), Osborne Clarke (legal), Grant Thornton (financial due diligence) and Armstrong (commercial due diligence).
