Newark firm sold after stricken parent company slips into administration

A Newark firm whose parent company went into administration last month has been bought by Derby’s CET UK.

Enverity has been snapped up after owners Hawk Plant (UK) and five of its subsidiaries called in administrators in mid-January. Administrators stressed at the time that Enverity remained solvent.

The acquisition comes just three months after private equity house Palatine took a majority stake in CET in November 2018, with the intention of broadening its service capability and geographical reach through a buy-and-build strategy.

Enverity provides comprehensive testing services across the civil engineering, structural engineering and geotechnical markets.

Established in 1989, CET UK offers a range of outsourced services and employs 510 staff.

Peter Eglinton, chief executive at CET UK, said: “I am delighted that Enverity will become part of the CET group and look forward to working with Paul, his team and their customers going forward. This acquisition fits with our strategy to support our customers with local skilled resources, market leading technology and the fastest turn-around times in the industry.”

Richard Thomas, head of Midlands at Palatine Private Equity, said: “Coming so soon after our investment in CET, this acquisition demonstrates the company’s intention and ability to grow via acquisition with our support. Enverity is highly complementary to our existing testing business and will provide additional capacity, expertise and geographical reach. The underlying business is growing rapidly and this, along with future acquisitions, will only serve to accelerate that growth.”

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