Houlihan Lokey Advises Independent Clinical Services

Houlihan Lokey is pleased to announce that Independent Clinical Services Group (ICS), a portfolio company of TowerBrook Capital Partners (TCP), has completed a successful recapitalisation and portable refinancing of its existing debt structure. The transaction closed on March 6, 2019. Houlihan Lokey served as the exclusive financing advisor to ICS on this transaction.

ICS is a U.K.-based leader in highly skilled and specialised workforce solutions and services to the health, life sciences, and social care sectors. ICS serves public and private clients in the U.K. and overseas across four continents through long-established partnerships. In the U.K., ICS is the number one workforce solutions provider for nurses and allied health professionals. ICS is also one of the leading solutions providers for doctors and social workers. As a result, the company plays a critical role in the healthcare market in the U.K.

TCP is an investment management firm headquartered in London and New York City that seeks to invest in large and middle-market companies, principally on a proprietary basis and often in situations characterised by complexity. TCP acquired ICS in 2014 from Blackstone and has since invested in further diversification of the business as well as new technology and digitisation of existing systems to drive efficiencies.