Quadrant Private Equity-backed disability services provider Advanced Personnel Management (APM) has acquired UK-based WD Services from American healthcare services firm Providence Service Corp.
The transaction is expected to close by the end of 2018.
The US company has agreed to sell all of the WD Services business to APM with the exception of its operations in Saudi Arabia. It said it is pursuing alternative strategies for that part of that business and expects to stop offering its services in the country beyond the end of the year.
WD Services’ revenue was $77.5 million for the third quarter of 2018, a decrease of 8.4 per cent from $84.7 million in the same period of 2017, according to Providence Service’s financial statement. Operating loss was $1.6 million in the quarter, compared to an income of $1 million in the third quarter last year.
APM is co-owned by Quadrant Private Equity and founders Bruce Bellinge and Megan Wynne. Quadrant was said to have invested more than $400 million in APM for a 60 per cent stake.
In 2015, APM acquired Birmingham-based Pertemps People Development Group to expand its footprint in the UK.
The firm originally started out as a rehabilitation services company in Western Australia. To date, it has been providing employment, disability, assessment, health and injury management services in more than 400 locations across Australia, New Zealand and the United Kingdom.