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Learning technology company 3t raises $100m in bonds

Tuesday, May 14, 2024

The new funding will enable 3t to pursue planned strategic acquisitions designed to boost its growth trajectory, competitiveness and its continuing commitment to innovation.

3t, a pioneering leader in the provision of training, learning technologies and simulation solutions for safety-critical industries, has achieved a significant milestone in its growth trajectory by successfully issuing bonds on the Norwegian Stock Market, raising USD $100mn in financing to aid planned strategic acquisitions.

The bond issuance represents a major move by 3t as it gears up for ambitious global expansion plans. With a clear vision for the future and a commitment to innovation in training and learning technology, 3t is now poised to capitalise on emerging growth opportunities that will see 3t deliver further value for its global customer base, prospective customers, and investors.

3t's consistent growth highlights its commitment to the energy, marine and industrial markets, with training and development recognised as being key to securing a world-class workforce of the future. Through best-in-class training and immersive blended learning solutions, 3t is leading the way in re-skilling and up-skilling people and workforces internationally across safety-critical industries including energy, renewables, marine, construction, gas, power and water.

"This financing will provide us with the necessary resources to pursue strategic opportunities we have on the horizon complementing our existing capabilities. These plans will accelerate our expansion into growing markets, ultimately fortifying our position as the industry frontrunner,' said Kevin Franklin, CEO of 3t.

3t is backed by specialist investor, Bluewater, whose partnership model has helped drive the company's ambitious growth strategy to where projected run-rate revenues will be in the region of $100mn as FY24 closes.

'This financing underscores the confidence of investors in 3t, our growth prospects and strategic vision,' added Kevin Franklin. 'We are excited about the opportunities we have lined up for this year, and beyond, and remain committed to driving value for our customers throughout the world and to continue leading the way in addressing international skills shortages with our best-in-class training and learning solutions.'

3t partnered with Arctic Securities and Pareto Securities as joint backers, facilitating initial investor attraction. The bonds will be listed on the Norwegian Stock Exchange.


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