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DRC Group get Dragons Approval

DRC Group get Dragons Approval
Dragons' Den star James Caan has completed what could prove to be his most significant investment to-date. His leading UK staffing and real estate private equity firm, Hamilton Bradshaw (HB) has agreed to acquire 90% of highly respected medical recruitment specialists, DRC Group (DRC Locums and Locumlinx). The transaction, initiated and overseen by Tristan Ramus, involves HB combining with the ongoing DRC Group management team led by CEO Imraan Ladak, and includes the majority of departing founder Darren Card and finance director Riaz Dhanjis shareholdings. With DRC Group turnover currently exceeding 50m and 2010 revenue forecasts totalling over 80m, this deal will result in HB's 41-company portfolio surpassing annual revenues of 500m.

DRC Group has recently been awarded multi-year preferential contracts to supply nurses, non medical and non clinical staff to the NHS, in addition to its continued status on the National Medical Framework Agreement, having established itself as the third largest supplier of locum doctors in the UK and delivering nine successive quarters of growth. With the NHS being the largest employer in Europe and ranking third in the world, combined with a shortfall in supply of suitably qualified healthcare staff throughout the world, locum recruitment agencies have been integral in assisting with the demands the Service faces:
"The healthcare sector has constant challenges that arise from a changing society, so it is fulfilling to engage with a firm that can deliver medical professionals to help serve on the frontlines of patient care. The healthcare sector is one of the most admired and respected in the world and is considered one of the top employment sectors in Europe with a multi billion pound annual spend," said James Caan, CEO of Hamilton Bradshaw, who will have a significant role as a board member of DRC. "We are excited and energised about the prospect of working with DRC, which has maintained an excellent reputation in the market. Working closely with DRCs current management team, we feel strongly that we can help position the firm for substantial, mid-term growth."
"The medical locum market has performed well over recent years, and we believe that growth is likely to remain robust for the foreseeable future as the sector continues to benefit from factors including an increased demand for locum doctors in the NHS," said Tristan Ramus of HB, who led the deal and has also joined DRCs board following completion.
CEO Imraan Ladak confirmed:"This is a very exciting time for everyone at DRC and the timing could not have been better from a commercial, client or candidate care perspective. The NHS have placed a large amount of trust in us and we are certain that this partnership with HB will allow us to deliver in several new sectors whilst continuing to outperform within our core and established areas." Davies Arnold Cooper and KPMG advised Hamilton Bradshaw on the acquisition providing legal advice, financial and commercial due diligence. DRC Group were advised by Woodfines and MacIntyre Hudson.

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