Tue, 08 Sep 2020 | BUSINESS SALE
AIM-listed technology services group The Panoply Holdings has acquired Newcastle-based digital transformation consultancy firm Difrent for an initial consideration of £8.8 million.
Difrent is a healthcare-focused consultancy, offering services including strategic consultancy, front and back end development, business analysis, business change, user centred design and procurement.
For the acquisition, £4 million will be paid through an extension of The Panoply’s existing revolving facility with HSBC, while the remaining £4.8 million will be paid via the issue of shares in the group to the current Difrent owners.
The Panoply has said that the acquisition will be profitable and immediately earnings enhancing. Difrent most recent accounts show it reporting full-year underlying earnings of £900,000, with revenues of £7.4 million. It has seen particular growth in revenue from its consulting division in recent years, most recently reporting unaudited revenues of £5.7 million from its consulting business.
Difrent will work closely with The Panoply’s existing companies for the earn-out period, with a view to it joining one of the group’s full-stack brands in future.
The Panoply Chief Executive Neal Gandhi said: "Difrent's focus on health and social care presents an immense opportunity for us as a group, building upon the success FutureGov had already achieved in those sectors and at a time when there has never been more focus on radically transforming the way we deliver healthcare services.”
"This acquisition is immediately earnings-enhancing for the group, and clear evidence of our continued momentum against our three-year commercial vision, following on from the acquisitions of Arthurly in June 2020 and Ameo in the last financial year.”
"As a disruptive, purposeful and forward-thinking company, the Difrent acquisition perfectly complements our strategy of acquiring best-in-class in companies who share the values and deep sense of purpose that runs through the group."
Difrent Chief Executive Rachel Murphy commented: "All of the team here at Difrent greatly look forward to collaborating with The Panoply's other group businesses to win new business and, ultimately, deliver digital transformation programmes of the highest quality to our clients and by definition create better services for citizens, patients and service users."
Find businesses for sale here.
If you are looking for an exit, we can help!
This family-owned and operated business has been providing exceptional services to its clients for over 45 years and has established an excellent reputation for quality, reliability, and service within the newly built homes and commercial landscaping...
RELOCATABLE
This a unique opportunity to acquire a thriving and reputable health diagnostics and professional medical services clinic. Established by a team of medical professionals, the Clinic has become a trusted provider of comprehensive healthcare solutions...
RELOCATABLE
Established over 20 years. Currently provides service to approx 35 site locations. Operates from leasehold premises - although new owner will need to find new premises.
RELOCATABLE
08
|
Jun
|
UK IT specialist acquired by New York workforce management group | BUSINESS SALE
Gibbs Hybrid, a UK-based IT and business services firm, has ...
08
|
Jun
|
Farm and estate insurance broker targeting acquisitions | BUSINESS SALE
Lycetts Holdings Limited, a Newcastle-based broker specialis...
07
|
Jun
|
Law firm exploring sale option and set to appoint administrators | ADMINISTRATION
Plexus Law, a specialist defendant insurance law firm, is ex...
30
|
Mar
|
Tech group The Panoply acquires consultancy firm Ameo | BUSINESS SALE
Business consultancy firm Ameo has been acquired by AIM-list...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.