iHASCO is a health and safety e-learning provider, primarily for the SME market, and Citation is a tech enabled nationwide provider of outsourced HR and H&S compliance services. The sale was backed by private equity firms KKR and Hg Capital.
The transaction will support the business in its growth trajectory, combining the expertise of both businesses in the HR and health and safety compliance sector.
Rob Rice, who acted for David Goddard, Bradley Worsfold and other iHASCO shareholders, said: “After a really busy year for our corporate team, this was a great transaction to get across the line before the end of the calendar year. Huge credit to the principals on each side and also to all of the professional advisers as the transaction was incredibly smooth from start to finish.
“I am sure this was helped by the fact that David and Bradley have, over the years, built up a first class business which has consistently delivered excellent growth and which retains huge potential –particularly with the synergies that will come from being part of the Citation Group. I wish them and the business every success for the future.”
Bradley Worsfold said: “We’d like to thank Rob, Bronia, Pearse and the rest of the team at HCR for guiding us through this transaction – they worked tirelessly throughout and delivered an excellent result for us.” David Goddard also added: “This was a hugely significant transaction for us and we needed everything to be right. HCR ticked all the boxes.”