Palatine-backed group makes first acquisition
Environmental services group Cura Terrae has made its first acquisition, buying Nottingham occupational health consultancy S I Environmental.
Sheffield-based Cura Terrae was formed earlier this year through the combination of Environmental Monitoring Solutions (EMS), Ecus and Envirocare.
Palatine’s Impact Fund took a significant minority stake in the group, which employed 240 people with ambitions to grow.
This deal is a strategic bolt-on for Envirocare, expanding its presence to the East Midlands alongside its existing bases in Bradford, Brackley, and East Kilbride.
Cura Terrae chief executive Prof Peter Skipworth said the purchase is “another valuable addition to our family tree”.
He added: “The formation of Cura Terrae has given our market-leading businesses a unique opportunity to grow and expand, in terms of the services they offer, the expertise and resources at their fingertips, their geographical coverage, and the quality of their customer service.”
S I Environmental was established in 2000 and has a strong market reputation and a number of specialist and experienced staff.
Greg Holmes, investment manager at Palatine, said: “Since our investment in March we’ve been very pleased with the performance of the new group. We are delighted to have completed this first acquisition so soon after formation and we have strong pipeline of further M&A in our pipeline is a sector that continues to see significant growth.”