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Fri May 27 2022

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CTS gets funding for more aquisitions

20 Dec 21 Construction Testing Solutions, a private equity backed materials testing consultant, has completed a multi-million pound refinancing to support further acquisitions.

CTS inspects a lock
CTS inspects a lock

Leicester-based Construction Testing Solutions (CTS) that has already seen it acquire five businesses since Palatine Private Equity took a majority stake in November 2018.

It has now secured new funding from European credit specialist Kartesia.

Chief executive Phil Coles said: “The new funding from Kartesia will be key to delivering our strategic growth plan, giving us the firepower to make further acquisitions in the short and medium term, while also allowing us to invest in our people and technical capabilities.”

Tom Hustler, investment manager at Palatine Private Equity said: “This refinancing deal is an important step forward for CTS and will allow it to continue to add depth and scale to its capabilities in line with its strategic vision of becoming an industry-leading nationwide construction testing business.”

CTS has acquired: Esseltest, Enverity (2019), Card Geotechnics Ltd (CGL) (2020), Nicholls Colton, (2021) and most recently Silkstone Environmental in August this year.

CTS began as CET Group, which as originally backed by private equity investor Dunedin. In 2016 it bought Doncaster-based Construction Testing Solutions (CTS) and Chesterfield-based Omega Calibration Laboratories. CET Infrastructure then changed its name to Construction Testing Solutions on 1st January 2021.

In the last 12 months CTS’ revenues have passed £40m for the first time.

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