Acquisitive materials testing firm swoops for London rival
Leicester-based construction consulting and testing services firm CTS Group has acquired a rival firm which employs over 100 staff.
Concept Engineering Consultants is headquartered in London and has a base in Coventry. It provides a wide range of geotechnical, structural and geo-environmental services.
The deal for the 25-year-old firm is the sixth in a series of recent swoops by CTS following the acquisitions of CGL Limited in November 2020, Nicholls Colton in February 2021, Silkstone Environmental in August 2021, Mason Evans in January and GT Certification in May.
It is the eighth acquisition the company has made since receiving private equity investment from Palatine in 2018.
Milan Dedic, CEO at Concept Engineering, said: “We are delighted to become part of the CTS Group and continue to bring innovative site investigation solutions to our clients.
“We look forward to the opportunity to expand the business as part of the group and having met the senior leadership team at CTS we believe we have found a company with a similar ethos to our own and see exciting times ahead. Together we will be able to offer our clients a market leading range of construction related testing, inspection and compliance services.”
CTS Group CEO Phil Coles said: “I am delighted that Concept Engineering will become part of the CTS Group and look forward to working with Milan, Anastasia, Natalie, Ivo and the management team to continue to grow the business. This latest acquisition complements the previous deals announced over the last two years as we continue to grow and develop a strong team with the skills and knowledge to deliver a quality and trusted service to our customers.”
CTS was advised by Browne Jacobson.
Ryan Brown, a partner at the law firm, said: “Having advised on all of its previous bolt-on acquisitions, we are very engrained in the strategic objectives of CTS and in tune with what they want to achieve with each deal they make.
“Through a series of key acquisitions, fantastic organic growth and a stellar reputation for providing high quality site investigation services, CTS is well on its way in becoming an industry leading provider to the construction sector and it is a great journey to watch.”
Tom Hustler, investment director at Palatine, added: “CTS’s acquisition of Concept Engineering marks the group’s eighth acquisition since Palatine’s initial investment, and underlines our shared ambition to continue to grow the business both organically and through strategic M&A. Concept Engineering is a great addition to CTS and brings a skilled team and strong reputation within the civil, structural and geotechnical engineering space to the group.”
