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H&L advises The Panoply on its 11th acquisition

17 September 2020

Harbottle & Lewis has advised AIM-listed technology services group The Panoply Holdings plc on its acquisition of Difrent Ltd, a company that partners with public services (specifically and principally in the health and social care sectors) to achieve their digital transformation goals.

Following completion, Difrent will work closely with The Panoply’s existing Group companies and the acquisition represents a significant expansion of the Group’s offering in the health and social care sectors (Difrent’s clients including NHSX, Department of Health and Social Care, NHS Business Services Authority, Public Health England, World Health Organisation, DEFRA and Department of Work and Pensions).

The acquisition was partly financed by a revolving credit facility with HSBC, which was extended as part of the transaction.

Neal Gandhi, CEO of the Panoply said: “This acquisition is immediately earnings-enhancing for the Group, and clear evidence of our continued momentum against our three-year commercial vision, following on from the acquisitions of Arthurly in June 2020 and Ameo in the last financial year.”

On working with Harbottle, Olly Rigby, CFO of The Panoply said: “We are delighted to have worked with Charlie and the team at Harbottle again for The Panoply’s 11th acquisition – as always, their commercially astute and pragmatic advice played a key role in getting this strategically important deal over the line.”

Corporate partner Charles Leveque led the team that advised The Panoply on the transaction with support from Corporate associates Chien-Wei Lui and Katerina Capras. Tax partner David Scott advised on the tax aspects.

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