TICC Services specialist Phenna Group has acquired Professional Soils Laboratory (PSL).
Headquartered in Nottingham, Phenna Group, was first established in summer 2018 to deliver a buy and build strategy within the highly fragmented TICC sector. The aim is to invest in and partner with selected niche, independent TICC companies that serve a variety of sectors, ensuring customers’ peace of mind by delivering first class assurance services. This is the third acquisition made by Phenna Group, since it was formed less than 12 months ago. Phenna Group recently completed a management buyout, supported by a debt placement by CVC Credit Partners and committed capital to complete near term acquisition opportunities.
Professional Soils Laboratory Ltd is a fully independent UKAS accredited geotechnical and materials testing facility which was established in July 2004. Based in Doncaster with a team of 40 + laboratory and field staff, PSL has quickly become one of the leading geotechnical laboratories in the country.
Anthony Watkins and Russell Gunson, Co-Managing Directors of PSL will continue in their current roles, alongside the company’s dedicated team of professionals.
“We are delighted to become part of the Phenna Group portfolio of companies. The company has strong experience in the TICC sector and demonstrated close alignment with our values and entrepreneuirial spirit” Mr Watkins says. “Selecting the right partner was very important to Russell and I and we both firmly believe Phenna Group will support our continued growth and expansion for many years to come”.
Paul Barry, Group CEO of Phenna Group said: “I’m very excited to welcome PSL to our portfolio. The company fits closely with our strategy of creating a differentiated group of niche TICC businesses, with a global footprint. I’m looking forward to working with Anthony, Russell and their team to deliver their continued growth”.