Partnering Health Limited secures management buyout to boost growth

13 September 2022 2 min. read

Healthcare services provider Partnering Health Limited has undergone a management buyout. Professionals from FRP advised the firm’s shareholders on the deal.

Headquartered in Hampshire, Partnering Health Limited (PHL) provides a range of healthcare services to the NHS and private healthcare partners throughout Britain. In recent years, projects have included providing custody healthcare services for Hampshire Constabulary and the City of London Police, and running Integrated Urgent Care, which provides telephone triage services and out of hours home visiting services to 1.7 million patients across Hampshire.

As PHL looks to grow in size and stature, the firm has undergone a deal to transfer ownership to its management team. The buyout hopes to support future expansion through acquisitions, as well as by broadening contracts with existing clients. In order to complete the deal, PHL’s management team acquired a finance package through private equity firm ThinCats.

Clive Hatchard

Dave Sherrington, Regional Head of Sales at ThinCats, commented, “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.”

Supporting the deal, a multi-disciplinary team from FRP Corporate Finance supplied expertise to PHL throughout the move. This was led by Corporate Finance Partner Clive Hatchard and Debt Advisory Partner Ian Milne. Hatchard was supported by Manager Madhavi Morjaria in advising PHL’s shareholders on the business’ management buyout terms, while Milne, supported by senior managers Julie Lada and Scott Archer, advised PHL’s management team on the ThinCats finance package.

Hatchard said of the process, “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 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 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.”

Several other professional services firms supported the deal too. The financial aspects of the transaction were advised by Saffrey Champness, while Latitude Consulting provided commercial advice, Vista supplied insurance support, and Harrison Clark Rickerbys gave legal services.