30 Aug, 2022
Phenna Group
Oakley Capital and Phenna Group Logos

Formed in 2018, Phenna Group has rapidly emerged as an international TICC platform of scale, with revenue growth of c100% CAGR over the last three years. Today the group comprises 32 businesses, operating across 12 countries and 4 continents, providing specialist TICC services through its infrastructure, built environment, niche industrials, health sciences and certification and compliance divisions.

Over the past 2 years, Phenna have partnered with Inflexion who have been highly supportive of the groups rapid growth strategy to this point.  Securing Oakley for the next stage of our journey is hugely exciting for all employees. Their vast M&A experience and entrepreneurial culture are a perfect fit for Phenna Group.

CTS Group is a leading provider of testing and inspection services in the U.K., and adding them to Phenna takes the global headcount to over 3,000.  CTS is primarily focussed on long term civil infrastructure projects. The business has almost doubled over the last two years through organic and acquisitive growth.  CTS and Phenna Group offer complementary services and the combination will facilitate a much broader and expansive service offering to their clients.

In recent years, Phenna has emerged as the strategic acquirer of choice for best of breed specialist TICC companies due to our unique partnership approach, which allows leading TICC entrepreneurs to continue to operate their businesses whilst also having all the benefits of being part of a larger global business. Oakley’s investment will allow Phenna to continue to grow rapidly into new verticals and geographically.

Oakley Capital Founder and Managing Partner, Peter Dubens, commented: “Phenna Group is exactly the kind of entrepreneurial disruptor that Oakley was founded to support. We are pleased to have been able to help them with the acquisition of CTS Group, one of the pre-eminent testing brands serving UK infrastructure customers. We believe Phenna has the potential to become one of the leading TICC groups in the world and look forward to supporting them to achieve that vision.

Phenna Group Founder and CEO, Paul Barry, commented:
I’m delighted to be partnering with Oakley, we were attracted to their deep expertise in M&A execution and integration, as well as their strong track record in helping businesses to internationalise at scale.

Equally, I’m very excited that the CTS team will be joining Phenna Group. I’ve known and respected CTS for a number of years and their experience and strong growth track record, fits perfectly with Phenna’s longer term ambitions.”

I couldn’t be prouder of what my team has achieved to date and as I look to the future, I’m excited to be working with the Oakley team to deliver on our mission to grow Phenna into a leading global TICC player.

CTS Group CEO, Phil Coles, commented: “ Oakley’s approach and track record in driving business growth through M&A complimented that of CTS. The opportunity that then presented itself to continue this with Phenna, with the immense success that Paul and the team have had to date, was ideal and provides a great futurefor the business as part of a larger, incredibly ambitious, international group.”