3HR Benefits Consultancy is the market leader in the provision of International Private Medical Insurance (“IPMI”) and other employee benefit services to more than 200 Japanese, Korean and Chinese multinational companies in respect of their expatriate employees located mainly in the UK and Europe. It has an outstanding portfolio of blue-chip clients including some of the largest and highest profile keiretsu and chaebol groups such as Samsung, Canon and Mitsubishi. The business was owned by a group which included a law firm providing legal services to the same client base. Resolution Partners advised 3HR Plc on the sale of the business to the PE backed Broadstone Group.
Notable features of the transaction include:
- A market leading business, serving some of the very largest Asian multinational corporates and their senior staff, generating a very high adjusted profit margin;
- With both a key reliance on a handful of senior staff with native-speaking Japanese, Korean and Chinese skills and an on-going client overlap with the law firm it was critical to find a partner that would both maintain the exceptional levels of client service and work ethic and recognise the business’ true value; and
- Transaction secured an attractive valuation and with a structure that enabled the vendor to capture both new business referrals from the law firm and the inherent growth in the client base.
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