Browne Jacobson has advised CET UK on the acquisition of Esseltest Ltd
The deal is CET’s second bolt on acquisition this year since Palatine Private Equity invested in the business in November 2018. CET acquired Enverity earlier this year – a deal that Browne Jacobson also advised on.
The deal is CET’s second bolt on acquisition this year since Palatine Private Equity invested in the business in November 2018. CET acquired Enverity earlier this year – a deal that Browne Jacobson also advised on.
Founded in 1989, Castle Donington headquartered CET UK provides a range of specialist testing services to the precision engineering, construction and property sectors whilst its Property Assurance division specialises in delivering an outsourced claim response, property risk investigation and issue mitigation service for the UK insurance claims sector.
Northamptonshire based Esseltest Ltd was established in 2007 and specialises in material testing services to construction and on-site investigation projects.
Browne Jacobson’s Gareth Davies and Clare Hanna advised on the acquisition. Private equity partner Gareth Davies, commented: “Having acted on the secondary buyout of CET UK by Palatine and its subsequent acquisition of Enverity we are delighted to have advised on this latest deal. There is a strong synergy with CET and I wish Lorne and his team all the best for the future as part of CET.”
Peter Eglinton, CEO at CET UK, said:“I am delighted that Esseltest will become part of CET Infrastructure and look forward to working with Lorne McClundie and his team. Lorne is returning to CET having established and rapidly grown Esseltest and we believe that together we can deliver the best service in the industry. Our focus has always been on having the right skills available across the country and providing accurate and timely results for our customers. We continue to invest in our business to ensure we can deliver this.”
Richard Thomas, Head of Midlands at Palatine Private Equity added: “It has been a busy 10 months since we invested in CET and the business continues to grow rapidly, both organically and through acquisition. We are pleased to support the management team with their second bolt-on since our investment which demonstrates CET’s commitment to continuing to add additional expertise, scale and geographic reach to their growing business. We look forward to continuing to support the team with future acquisitions.”
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