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The acquisition of Surrey-based CGL, for an undisclosed sum, is CET’s third bolt-on acquisition since Palatine Private Equity took a majority stake in November 2018 and its largest acquisition to date.
CGL has about 65 employees across seven regional offices and is said to be the largest independent specialist geotechnical and geo-environmental consultancy in the UK and Ireland.
Tom Hustler, investment manager at Palatine Private Equity, said: “We’re pleased to support CET with their continued buy and build growth strategy. The business has continued to perform strongly through the uncertainty caused by Covid-19, which is testament to the hard work of the management team.
“The acquisition of a CGL, which has a great reputation in the marketplace, brings additional talent, technical capability and geographical reach to the group and demonstrates our continued appetite to support their growing business.
“We look forward to 2021 with confidence with further growth and acquisitions in the pipeline.”
CET Group, which is headquartered in Castle Donington, comprises two divisions, CET Infrastructure and CET Property Assurance, which looks after the home emergency policies for one in four UK properties on behalf of a number of leading insurers.
Before Palatine came along, CET was backed by private equity investor Dunedin. In 2016 it bought Doncaster-based Construction Testing Solutions (CTS) and Chesterfield-based Omega Calibration Laboratories.
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