Thu, 25 Jul 2024 | BUSINESS NEWS
A Hull-headquartered provider of occupational health services has secured backing from private equity firm NorthEdge to enable it to target strategic M&A and organic growth. Latus Group provides occupational health services to businesses across a range of sectors.
The group’s services aim to support regulatory compliance, improve employee health and wellbeing and enhance employee engagement, thereby helping to reduce absenteeism and relieving pressure on the NHS via a preventative approach to health.
Over the past two years, the business has registered strong organic growth, completed two strategic M&A deals and launched Yodha, its proprietary, on-demand health platform that enables users to access digital health surveillance services.
The backing from NorthEdge will support the business’ growth plan, led by founders Jack Latus (CEO), Sam Latus (COO) and Will Latus (CIO), alongside Alex Birkett (CFO).
The group’s growth plan includes an M&A strategy aimed at facilitating geographical, end-market and service-line expansion. The funding will also support additional investment into the group’s staff, operating platform, commercial effectiveness and technology, as part of the shift towards a digital health operating model.
Jack Latus, chief executive at Latus, said: "We have been building our relationship with NorthEdge for two years, so the completion of this investment represents a significant milestone for us. As well as the clear cultural fit and sector experience, the NorthEdge team have already supported us to find an experienced Chair and M&A Director, alongside helping us to refine our organic growth plan and M&A strategy.”
"This investment will allow us to accelerate our growth and further expand our reach – delivering more high-quality occupational health services for our clients that improve health outcomes, by ensuring employees across the UK have the health support they need, whenever they need it and wherever they are."
The investment was funded from NorthEdge Fund III, led by partner Phil Frame and investment managers Matthew Mellon and Mike Craven. Following the investment, Phil Frame will join the board on behalf of NorthEdge, alongside non-executive chair Graham Ewart.
Frame commented: "Latus is a leader in its field and the team have the ambition of building a business with strategic and social importance. The business operates in a large and growing market; has a track record of delivering growth; is committed to introducing new and innovative approaches in the sector to improve health outcomes; and the team's approach aligns perfectly with NorthEdge's culture and values – we are delighted to have another business with these characteristics in the portfolio.”
Read about the range of financing options available to businesses seeking to grow via acquisitions
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