Bracebridge advises on private equity deal

BRACEBRIDGE Corporate Finance has advised European private equity fund Archimed on the acquisition of RehabWorks. 

Suffolk-based RehabWorks is a provider of injury management and rehabilitation services for employers, insurers, solicitors and government organisations. It has won a number of plaudits in recent years for its work in occupational health, complex case management and prevention programmes.

The company will continue to be headed up by Andy Holdcroft.

Archimed, established in 2014 by members of the former 3i healthcare team, is a Paris and London-based private equity fund exclusively focused on the healthcare sector.

It has acquired RehabWorks as part of a buy and build strategy in the occupational healthcare sector and is now seeking further acquisitions.

Simultaneously, RehabWorks acquired Right Corecare (trading as Right Management Workplace Wellness).

The acquisition sees RehabWorks bring an employee assistance programme and corporate wellbeing provider within its business.

Collectively, the two businesses will now employ some 162 staff, with headquarters in Bury St Edmunds and with a number of centres across the UK, from Glasgow to Southampton.

Andy Holdcroft, CEO of RehabWorks, said: “The acquisition of Right Management is a hugely exciting development for both businesses enabling us to build upon our respective strengths and offer our existing and new customers even more – optimising our superior reputation for quality and service.”

Andy Moore, managing director of Birmingham-based Bracebridge Corporate Finance, added: “We are delighted to be involved in Archimed’s first UK investment. We assisted Archimed with negotiating the acquisition and we are now working with the management of RehabWorks on other potential acquisitions.”

Terms of the transaction were not disclosed.