Houlihan Lokey Advises Brookson Group

Houlihan Lokey is pleased to announce that The Riverside Company, a global private equity investor, has divested its interest in Brookson Group Ltd. (Brookson) through a sale to P20 Global Holdings Inc. (People2.0), a TPG Growth portfolio company. Brookson is the leading provider of support services to freelancers and independent contractors in the UK. The transaction closed on 9 May 2022.

The Brookson Group has been supporting the freelancer workforce for over 25 years with a mission to revolutionise professional services and to make the world of work, work. Brookson’s vision is to be the leading compliance and services platform for freelancers and their hirers and deliver everything the freelancer and hirer need in one place through a unique blend of technology and amazing people.

Riverside acquired Brookson in November 2014 and grew the business substantially with the acquisitions of 1st Group in 2017 and InTouch Accounting in 2018. These acquisitions introduced a number of incremental services to the Brookson offering and significantly expanded the company’s customer base. Riverside also supported the add-on of Boomerang Support Services in 2016.

People2.0 is the world’s leading enabler of global, mobile, flexible, and remote work arrangements. The company’s employer of record (EOR) and agent of record (AOR) establishments around the world, networked by its proprietary FlexLife™ technology platform, create a unique global ecosystem within which talent suppliers can engage any category of worker in any work arrangement, anywhere, while independently working professionals have access to business support services and portable benefits. Global workforce deployment is facilitated through a single master services agreement and one point of contact. The newly combined entity unlocks Brookson’s large accountancy, umbrella employment, legal services, financial services, and independent workforce technology for People2.0, while expanding Brookson’s global capabilities for its client universe of workers and recruitment partners.

Houlihan Lokey served as the exclusive financial advisor to Brookson and assisted in initiating, marketing, and negotiating the transaction. This deal highlights Houlihan Lokey’s long-standing reputation in the tech-enabled HCM space and marks the second time that the team has advised Brookson, having previously advised it on its investment by The Riverside Company in 2014.