ICAS World secures significant investment to drive growth and fund acquisitions
ICAS World, a leading global provider of Employee Assistance Programmes (EAP), crisis management solutions and people development, will use a significant investment from the alternative lender BOOST&Co to drive its future growth and fund further acquisitions, after demand for its services surged in the wake of a growing awareness of mental health issues.
Founded in 1987, the business provides a range of mental health, work-life and wellness services to more than 2,500 corporate clients, serving more than 6.5 million employees. It employs more than 300 people and has offices in locations including London, Paris, Madrid, Buenos Aires, Mexico City, Johannesburg and Dubai.
With mental health disorders costing the global economy $1tn in lost productivity each year, ICAS World’s clinical expertise, plus its ability to offer access to digital content and self-help, has enabled the firm to reach and support a progressively wider audience.
BOOST&Co chose to work with ICAS World because of the company’s long-established relationships with multinational clients across the globe. The lender has also been impressed by the firm’s high-calibre management team and believes that ICAS World is well placed to maximise on growing opportunities within the market.
BOOST&Co is a leading provider of growth capital for innovative, fast-growing UK SMEs.
The independent asset manager offers loans ranging from GBP1 million to GBP10 million, covering a wide range of sectors, with a strong track record in technology, media and telecommunications (TMT). It has funded more than GBP500 million across more than 130 deals and provided close to GBP200 million under the government’s CBILS initiative to support SMEs during Covid-19.
The lender’s rapid growth in recent years means that the business is actively seeking new principals with strong SME networks to join its team. BOOST&Co prides itself on its diversity, with its employees evenly split between women and men.
Miles Woodhouse, the director of technology and M&A at ICAS World, says: “We are excited to be working with BOOST&Co’s team as they support our continued growth, with their investment also helping us to fund further acquisitions.
“The Covid-19 pandemic and a heightened awareness of mental health issues have resulted in increasing demand for our expertise, highlighting the ever-growing importance of employee wellbeing and the need for employers to support both the mental and physical health of their staff to maintain a positive working environment.”
Kim Martin, head of the south and Midlands at BOOST&Co, says: “ICAS World’s team is of the highest calibre and the business is providing valuable services to employees across the globe. These services are being driven by an awareness of the importance of good mental health and wellbeing, which has only increased during the coronavirus pandemic. We are delighted to be able to support ICAS World on their journey.”