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FRP corporate finance and pensions advisory team has advised Partnering Health Limited (PHL) on a management buyout deal.
The deal will support PHL’s future growth through acquisition, and by expanding contracts with existing clients. By combining high-quality clinical services and governance with technological innovation, PHL plans to expand its delivery of health care across the UK.
The business, headquartered in Hampshire, provides a range of healthcare services to the NHS and private healthcare partners across the UK.
This includes running integrated urgent care, which provides telephone triage services and out of hours home visiting services to 1.7m patients across Hampshire; providing custody healthcare services for Hampshire Constabulary and the City of London Police; delivering remote patient monitoring systems, speciality care insourcing and advising GP practices on the commercial aspects of their businesses.
A multi-disciplinary team from FRP corporate finance was led by corporate finance partner Clive Hatchard and debt advisory partner Ian Milne.
Hatchard, supported by manager Madhavi Morjaria, advised PHL’s shareholders on the business’ management buyout terms and Milne, supported by senior managers Julie Lada and Scott Archer, advised PHL’s management team on a finance package through ThinCats to support their acquisition.
In addition, Gemma Jones, director in FRP’s national pensions advisory team, advised PHL’s management on pension structure for PHL’s shareholders.
Hatchard said: “This deal will help the business take its growth to the next level – unlocking capacity to take on more work, with more clients, particularly those in the NHS. We’re proud to have supported PHL before.
These are times of huge pressure and opportunity for the UK’s healthcare sector, and PHL has proven itself as a trusted partner to public and private sector healthcare providers alike – with the expertise, skills and technology to help deliver consistently excellent service, at scale. We know the management team has the experience and ambition to help PHL fully realise its potential.
Ross Brand, CEO at PHL Group, added: “FRP’s support on this deal has been invaluable. Its experience in the healthcare and technology sectors and market expertise has helped us secure the perfect future for PHL, and the seamless integration between all of its teams – from corporate finance to debt advisory and pensions – made the whole process smooth sailing.
“The deal agreed here is an exceptional outcome – giving us exactly the backing and support we need to continue our growth.”
Dave Sherrington, regional head of sales at ThinCats, said: “It has been a real pleasure to get to know the expert team at PHL, understanding the workings behind the business, and deepening our relationship with FRP Corporate Finance. The business strategy and plans for the future of PHL are impressive, and we look forward to seeing them continue to grow.”
The transaction was advised by Saffrey Champness LLP (financial), Latitude Consulting (commercial), Vista (insurance) and Harrison Clark Rickerbys (legal).
