Gloucestershire-based e-learning business e2train has been sold in a management buy-out led by CEO Rob Caul.

e2train was founded in 2000 and employs 34 staff. It provides services to customers across the public and private sectors, including the NHS, The Home Office, Boots and O2. As part of the deal, John Caines, a former chairman of the SWAIN angel network, has joined the board as non-executive chairman.

The management team was advised by Gambit Corporate Finance in the deal, which was backed by WestBridge Fund Managers, a division of WestBridge Capital, and the Royal Bank of Scotland.

Valerie Kendall, partner of WestBridge Capital, said:  'We believe e2train to be an attractive fast growing profitable company well placed in its market to take advantage of the trends towards more efficiently delivered and effective training in larger corporates.'