FRP advises PHL on management buyout
Thursday September 8, 2022
Healthcare provider secures backing for management buyout to target growth
Healthcare services provider Partnering Health Limited (PHL) has undergone a management buyout in a deal supported by our Corporate Finance, Debt Advisory and Pensions Advisory teams.
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 care across the UK.
The business – which is 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 1.7 million 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.
Clive Hatchard, supported by Manager Madhavi Morjaria, advised PHL’s shareholders on the business’ management buyout terms and Ian 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 our national Pensions Advisory team, advised PHL’s management on pension structure for PHL’s shareholders.
Clive Hatchard, Partner at FRP Corporate Finance, 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.
“We’re excited to see where they go next, and wish both teams the very best for the future.”
Ross Brand, CEO at PHL Group, added: “FRP’s support on this deal has been invaluable. Their 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 their 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.”