Second acquisition in six months for PE-backed group

Property assurance and infrastructure group CET UK has completed its second acquisition in six months with the purchase of a construction materials testing specialist.

Esseltest is based in Northamptonshire and provides testing services to construction and on-site investigation projects.

The deal has been supported by Palatine, which took a majority stake in CET last November.

Richard Thomas, head of Midlands at Palatine Private Equity said: “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.”

Castle Donington-based CET acquired geotechnical and constructions materials testing specialists Enverity in February. The business which is based in Newark and Daventry, is also part of CET’s infrastructure division.

In July, CET formally split its property assurance and infrastructure businesses to give them separate identities.

Peter Eglinton, chief executive of 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.”

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