30 Aug, 2022
CTS
Leicestershire based CTS Group has been successfully acquired by private equity investor Oakley Capital and upon completion of the deal will become part of the Phenna Group.
Having doubled in size over the past three years and undertaken nine successful acquisitions in that period, CTS’ acquisition by Oakley and the opportunity to become part of the Phenna Group presents a significant opportunity for further growth and development as part of one of the fastest growing TICC groups globally.
The existing CTS management team will continue to lead the business within the wider group and the combined capabilities that the two businesses have in the UK across laboratory testing, site-based testing and surveying, and geotechnical consultancy presents a leading portfolio of services in the sector.
CTS was previously owned by Palatine following their initial investment in 2018 and, since that time, has grown to become one of the leading testing, inspection, and geotechnical consultancy businesses in the UK infrastructure and construction market.
Phil Coles, CTS Group CEO, commented, “Our time under Palatine ownership proved highly successful for CTS through both organic growth and acquisitions, and the opportunity to continue that as part of a larger, successful, and ambitious group as Phenna is fantastic news for the whole business.”
“Oakley’s experience in supporting ambitious businesses in M&A activity and the opportunity to do this as part of Phenna, contributing to Paul and the team’s incredible success to date, means an exciting future for all those involved in the business,” continued Phil Coles.
Paul Barry, CEO of Phenna Group, commented, “I’m delighted that Phil and the CTS team will be joining Phenna Group. I’ve known and respected CTS for a number of years, and their experience and strong growth track record fit perfectly with Phenna’s longer-term ambitions”.
For further information, please contact CTS by email on enquiries@constructiontesting.co.uk