The private equity firm LDC has taken out a minority stake in the health prevention specialist PAM.
The investment will allow the existing management team to drive organic growth and support a number of new product launches.
PAM, headquartered in Warrington, is one of the largest providers of health and safety at work in the UK.
It offers its customers, which include leading blue-chip and public sector organizations, a comprehensive service of integrated occupational health programs and supports more than 600,000 employees in over 1,000 companies.
PAM services include absence management, health monitoring, physical therapy, employee support programs, psychological support, occupational health assessments, and neurodiversity assessments.
These are provided by PAM’s 400 employees from locations across the UK through a combination of mobile, remote, on-site and clinic-based services.
The partnership with LDC will support PAM in the implementation of its ambitious organic growth strategy to further improve its services. This includes the development of a number of new products, including telemedicine and digital cognitive behavioral therapy (CBT) services.
LDC supports the existing management team led by founder and CEO James Murphy.
Under the leadership of James, PAM has seen significant growth since its inception in 2004, with sales of £ 29 million in 2020.
It has established its market leadership position through a combination of strong organic growth and the completion of four acquisitions to expand its services to neurodiversity assessments and products.
The transaction will add Andy Parker to PAM’s board of directors as non-executive chairman. Andy was formerly CEO of Capita and brings extensive experience supporting growth strategies in the public and private outsourcing sectors.
James Murphy, CEO of PAM, said, “Over the past 17 years, PAM has grown stronger and become the industry leader in occupational health, serving the well-being of thousands of employees across the UK. We have decided to partner with LDC in order to further develop the services we offer our customers and, above all, their employees.
“We really like LDC’s collaborative approach to private equity investing and look forward to their advice on our board of directors. Their track record in helping healthcare companies grow speaks for itself. We are excited to see what we will achieve together. “
The investment was led by Aziz Ul-Haq, Richard Ibbett and Grant Goodwin from LDC in Manchester. Aziz and Richard will also join the board as part of the transaction.
Aziz Ul-Haq, Director of LDC in Manchester added, “Employers are more concerned than ever with the health and wellbeing of their employees. James and his ambitious team established PAM as a provider of holistic health and wellness programs for employees. When they came to LDC with a clear strategy for the company’s next phase of growth, we knew we wanted to support this team. “
In the past six months, LDC’s Northwest team has completed three investments. The PAM transaction follows investments in wireless CCTV based in Rochdale, the market leader in reusable surveillance solutions, and in Omniplex, a digital learning provider.
LDC was advised by Grant Thornton and DWF. Dow Schofield Watts conducted financial due diligence and PMSI conducted commercial due diligence. The management team was advised by Hill Dickinson.
source https://dailyhealthynews.ca/ldc-backs-29m-turnover-preventative-healthcare-specialist-pam/
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