EV Private Equity invests in e-learning company Trainor to enable international growth
27 July 2020
The leading provider of electrical safety training, digital solutions and consultancy services to the global energy, renewables, power and grid, and maritime industries, Trainor, has secured new investment from EV Private Equity to support its ambitious international expansion plans. The investment will see EV Private Equity become the majority shareholder, alongside Trainor management and employees.
This investment will fund the business´ expansion across the Nordics. The existing high-calibre management team will be strengthened and augmented in the sales and financials functions. EV Private Equity’s Senior Partners Per Arne Jensen and Rune Jensen, and Investment Director, Tomas Hvamb, will join the Board of Directors and bring experience in launching high growth businesses into new global markets.
Trainor has developed a large suite of proprietary e-learning, blended learning, classroom training courses, and tailor-made courses for any customer need. These courses offer internationally recognised accreditations, allowing individuals to work in the oil and gas, renewables and utilities sectors, in often complex and hazardous environments.
The renewable sector will be a new focus area for Trainor. According to RenewableUK, direct and indirect employment in the wind, wave and tidal energy sectors could grow from 34,000 in 2013 to over 100,000 by 2023. This surge in demand for skilled personnel highlights the need for advice and training as the world shifts to a low carbon economy.
Peter Svarrer, incoming executive chairman at Trainor, said in connection with the investment: "As a firm with a strong Norwegian heritage and global links, EV Private Equity is the ideal fit to support Trainor’s next phase of growth. This investment creates an exciting opportunity for Trainor to drive growth in the Nordics, as well as the thriving renewable energy sector.
"Trainor operates in high growth markets, with e-learning expected to grow by 80% from 2017 to 2023, and electricity demand expected to increase by 68% from 2016 to 2040, in-line with the world’s commitment to the energy transition.”
Per Arne Jensen at EV Private Equity, said: "Trainor has established a leadership position in specialized electrical safety training for companies in the energy and utilities sectors through providing cutting edge e-learning content and functionality, allowing for a more immersive and user-friendly participant experience.
"Based on their software and story-telling capabilities, the company has developed an attractive set of emerging digital products like film and 3D visualizations, virtual reality (VR), all delivered through a state-of-the-art learning management system.
"We have followed the company for the last year and they have coped well with the challenges from the Covid-19 pandemic and volatile oil price in 2020. The investment in product development has continued through the period with full strength, and the portion of digital revenue has increased over the last period – which can also be attributed to the introduction of webinars as a new revenue stream. Mid- to long-term, we firmly believe that the Covid-19 pandemic has increased the focus on digitalization which will benefit the e-learning market and Trainor strongly.”