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IPRS Group
IPRS Group – leading providers of health and wellbeing services, and a proud member of handl Group
A glance at handl Group’s acquisition criteria shows that we look for growth potential, a committed leadership group, and a secure fit within our key areas of operation. Already well established as market leaders in the healthcare sectors we operate in, IPRS Group looked to be a perfect match.
But with decades of history behind them, making IPRS Group a part of the handl Group wasn’t a foregone conclusion. IPRS Group weren’t short of potential suitors, thanks to their unprecedented growth, market position and existing talent base. In the end, the acquisition came down to more than finance, or opportunity.
It came down to trust.
IPRS Group’s Goals
For over 20 years, IPRS Group had thrived under the strategic vision and leadership of CEO Martyn Jackson. A 2016 rebrand and market-leading innovation meant that by 2021, IPRS’s four divisions (Health, Aeromed, Mediquipe and PFAS) were already performing well.
For Martyn, this didn’t represent the achievement of an end goal. Merely a beginning:
“After our rebrand and the resulting growth, I wanted to continue to expand the company. With other shareholders to consider – and hundreds of jobs to look after – I needed to make sure this expansion didn’t come at a risk. So we looked for external investment. But not any investment. Getting money is easy. Getting that money from the right people, on the right terms? That’s more difficult.”
Just narrowing down a list of those potential “right people” proved to be a challenge in itself. Over 100 parties were interested in the opportunity IPRS presented. 35 of them submitted proposals, and six of them were considered seriously by Martyn.
One came from a company he was familiar with.
“I knew Chris Chatterton, and I was familiar with handl’s model. But I hadn’t yet met Graham and the wider team. I needed to understand their reasons for acquiring IPRS, and whether they’d be a good fit.”
As 2021 moved into 2022, everyone needed to find out just how good that fit would be.
The Acquisition – 2022
For a business the size and scale of IPRS Group, you can’t just sign up with an investor just because you’re familiar with them. Martyn had set a stringent list of criteria he needed handl Group to meet.
“With any acquisition like this, you need to plan ahead. Our main concern was growth, but everyone we spoke to was interested in growth. Instead, I was focused on the answers to six key questions.
How will IPRS be run?
Will I be free to set and agree strategy?
How much interference will there be?
What financial backing will be available?
Will our independence be guaranteed?”
From handl Group’s perspective, the acquisition made sense. The numbers were right, the leaders were right, and the opportunity was right. It then became a case of ensuring the deal was right for IPRS.
After sitting down with Graham and the team, Martyn felt comfortable he was making the right decision.
“Every other presentation I sat through started with a spreadsheet. With figures. handl Group approached it differently. They were interested in our management, in our sector, and their reasons for buying made sense. They understood us, and how to look after and manage people. Every discussion was frank, honest and clear. It wasn’t a decision made solely on pounds and pence. Empathy and trust played a part too.”
In April 2022, the acquisition was finalised. IPRS Group would become part of handl Group.
IPRS Group’s Present – and Future
Two years later, Martyn is confident his trust in handl’s approach has paid off.
“We’ve already hit my initial targets, and won the contracts we aimed to win.”
But that doesn’t mean Martyn is going anywhere.
“From day one, I’ve been left to run my business the way I want. If I need help, or advice, it’s there. But I was never planning to sell IPRS and disappear. We’re already planning for our next five years.”
It’s been a two-way street. IPRS is already one of handl Group’s most successful acquisitions to date, and Martyn’s approaches to HR, recruitment and CSR are leading the way for other businesses across the group. Just as handl is helping IPRS to grow, so is IPRS helping handl to develop.
That’s a success for everyone, as Martyn concludes.
“Two years, and there’s absolutely nothing I would question.”
Two years is a long time in business. Martyn’s 20+ years experience as a CEO has taught him that. To have no doubts at all about the way his business has developed with handl Group’s insight and input proves one thing above all others.
When you work with us, your growth really is our goal.
