North West preventative healthcare services provider PAM Group has acquired a specialist Glasgow firm in a move hoped to add £2.5m to its annual revenues.
The Warrington-based firm has bought East Kilbride-based Concept Northern for an undisclosed sum - its fourth acquisition.
PAM said the move marks the latest stage of an "ambitious growth strategy" through which it aims to double in size over the next five years.
The group has 600 staff nationwide, and achieved turnover of £30.1m in 2019, up from £24.1m the previous year.
Concept Northern has 20 staff, who will now be integrated into PAM’s specialist health assessment division, ToHealth. It continues to trade under its own name and its employees remain with the business.
PAM Group provides occupational health and wellness services to the public and private sectors, and was founded in 2004 by chief executive James Murphy.
Mr Murphy said: “By providing clear and consistent advice to our clients, our services help to ensure that people are in work and are being productive.”
PAM Group has 32 clinics across England, Scotland and Wales, and is looking to double in size through organic growth, bolt-on acquisitions and by buying businesses.
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Mr Murphy said Concept Northern, which was established in 1996 by husband and wife Andrew and Louise Tasker, brings a new specialist service to PAM Group. It offers neurodiversity assessments and assistive technology for people with conditions such as dyslexia, ADHD and Asperger’s Syndrome.
Mr Murphy said: “Concept Northern has a proven track record in the education and employment sectors and its team are a key part of our future growth plans.
“Their experience and specialist skills will enable PAM Group to provide in-house further neurodiversity assessments covering a variety of conditions, with the focus being on keeping people in work, supporting them in finding work and accessing education.
“The acquisition complements our range of services and supports the group’s preventative healthcare strategy of providing anticipatory measures to prevent disease, disability and a reduction in quality of life through assessment, treatment and support.
“We look forward to bringing the specialist skills and assets of Concept Northern to new and existing PAM Group clients.
“Pleasingly, Andrew will be staying on for a period of time to ensure the effective handover of the management of the business, especially in relation to its client and customer service relationships.”
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The group was advised on its latest acquisition by Ben Bradley of HURST Corporate Finance and James Thompson and James Hamilton of HURST’S tax team.
Mr Bradley said: “PAM Group has shown tremendous resilience during the pandemic, capitalising on its strong performance and balance sheet, resulting in this acquisition which complements the group’s activities and brings geographical expansion. PAM remains highly acquisitive in its strategic aspirations and growth plan.
“It’s been a pleasure working with the management on the latest acquisition.”