Grant Thornton advises IPRS Group Limited IPRS Group Limited has been sold to handl Group

April 2022
IPRS Group Limited
Adviser to IPRS Group Limited on their sale to handl Group
£undisclosed
Grant Thornton team
Private sector healthcare
Sell side
Corporate finance
UK

We are delighted to have advised IPRS Group Limited on their sale to handl Group.

IPRS Group is a provider of case management, rehabilitation and wellbeing services to corporates and private health insurers, as well as specialist assessment capabilities (including disability assessment) to government organisations. The business experienced strong growth in recent years with a number of blue chip client wins. Approximately 80% of the shareholding was held outside of the management team, and these passive shareholders were seeking to realise the value of the business, whilst the CEO and significant shareholder, Martyn Jackson, was keen to stay invested and lead the business in the coming years.

Our deal team worked closely with management to monitor the market, trading performance and the M&A market to agree the optimum time to launch a sale process.

The team ran a tailored process covering both trade and private equity potential buyers focused on finding the right strategic acquirer to support the next phase of growth.

In October 2021, the team commenced discussions with a select group of potential acquirers, spending significant time to properly articulate the opportunity, benefits and synergies available to buyers.

Significant interest and competitive tension was generated, with multiple bids at a premium valuation received for the business. Ultimately handl Group was chosen as the preferred party as there were significant synergies which could be created by the two businesses working together to bid for lucrative contracts. The transaction processes was tightly managed to the very end to ensure deliverability on the agreed terms.

Testimonial

I am extremely happy with the dedicated support received from Grant Thornton over the course of the deal. The guidance and advice was extremely helpful complemented by the team’s strong sector knowledge. Despite the challenges that came with the transaction, Grant Thornton went over and above the remit to ensure we achieved mutual success for all shareholders.

Martyn Jackson CEO, IPRS Group Limited

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