Clearwater International advises Palatine and Construction Testing Solutions on refinancing to support growth
Clearwater International has advised Palatine-backed Construction Testing Solutions (CTS), a provider of construction and infrastructure testing and consulting services, on a multi-million pound refinancing transaction with European credit specialist Kartesia.
Headquartered in Leicester, CTS offers a wide range of construction testing services including materials testing, structure and pavement surveys and geotechnical and geo-environmental investigations. With support from Palatine, the UK mid-market private equity investor, it has grown to become a national network of 19 laboratories and offices, employing more than 600 skilled engineers and technicians.
In the last 12 months CTS’ revenues have passed £40m (€47m) for the first time, while the business has also recently moved to a new head office, following its separation from sister company CET Group.
The new funding will support CTS to continue a successful growth strategy that has already seen it acquire five businesses, since it secured investment from Palatine’s Buyout Fund in 2018.