Houlihan Lokey Advises PRSC on Its Sale of Ingeus

Houlihan Lokey is pleased to announce that Ingeus, the Workforce Development Services division of Providence Service Corporation (PRSC), has been acquired by Advanced Personnel Management (APM). The transaction closed on 21 December 2018.

Ingeus is a leading provider of employment programmes and people-based services designed to improve the employability, health, and independence of disadvantaged populations. Ingeus' suite of services includes employability, probation, youth development, health, and training and skills services. The company delivers contracts and programmes on behalf of governments and private sector clients globally, with over 2,800 employees and operations in 10 countries. Founded in 1989, initially in Brisbane, Australia, Ingeus is headquartered in London, United Kingdom.

Providence Service Corporation is a NASDAQ-listed provider of high-quality, technology-enabled non-emergency transportation and health assessment services, having acquired Ingeus in April 2014 and subsequently integrated it as the Workforce Development Services division. PRSC was founded in 1996 and is based in Stamford, Connecticut, in the United States.

Advanced Personnel Management is an Australia-based provider of employment, disability, assessment, health and injury management services, with operations in Australia, New Zealand, and the United Kingdom. APM was founded in 1994 and is based in Perth, Australia.

Houlihan Lokey served as the sole financial advisor to PRSC and assisted in the marketing, structuring, and negotiation of the transaction on its behalf.