Private Equity-Fuelled M&A Accelerates in UK TICC

Date: 11 July 2025

By: Lumina CF

The UK's testing, inspection, certification and compliance (TICC) sector continues to be reshaped by private equity-backed platforms executing ambitious buy-and-build strategies. Platforms such as Phenna Group and Celnor Group are at the forefront, while Premier Technical Services Group (PTSG) demonstrates how public markets and institutional investors are also driving scale through M&A.

Phenna Group: Oakley-Backed Growth via 50+ Acquisitions

Phenna Group, backed by Oakley Capital since early 2023, made a major move in December 2023 by acquiring CTS Group, a national compliance platform previously owned by Palatine Private Equity. The acquisition combined CTS’s strong position in construction testing with Phenna’s growing portfolio of environmental and technical services.

CTS had previously acquired several bolt-on companies, including:

• Nicholls Colton (geotechnical testing)

• Silkstone Environmental (land contamination)

• GT Certification (torque calibration)

• Mason Evans (ground investigation and laboratory services)

  
  

Since its founding in 2018, Phenna has acquired over 50 companies performing TIC services to a wide range of markets and sectors, including environmental, construction and infrastructure, aerospace, and energy.

Phenna has cemented its position as one of the UK’s leading compliance platforms, combining scale, technical depth, and cross-sector expertise.

Celnor Group: Inflexion-Backed TICC Roll-Up

Celnor Group, founded in 2023 and backed by Inflexion Private Equity, is another standout platform consolidating TIC businesses across multiple markets.

Its initial acquisitions included Riverside Environmental, Vintec Laboratories, and Ground Investigation & Piling (GIP). Since then, Celnor has acquired more than 20 businesses, including:

• Brownfield Solutions (geo-environmental consultancy)

• Vision Survey (utility scanning and land surveying)

• Arbtech (ecology and biodiversity surveying)

• John Turner Consulting (geotechnical, environmental and specialist inspections)

  
  

Led by Simon Parrington, Celnor aims to bring together deep technical expertise across compliance verticals while supporting the growth of founder-led businesses with capital and infrastructure.

PTSG: Public Company Transforming into Compliance Consolidator

Although publicly listed, Premier Technical Services Group (PTSG) has become a prominent example of institutional consolidation in the TICC space. It has operated under the ownership of Warburg Pincus and Macquarie Capital since 2021.

PTSG’s acquisitions include:

• M&P Fire Protection Ltd – fire riser and sprinkler specialist, acquired in 2018

• Trinity Fire and Security Systems – a transformational acquisition in 2019 that significantly expanded its fire solutions division

• Nationwide Specialist Services (NSS) – acquired around 2022, enhancing capabilities in building access and technical cleaning across retail, healthcare, events, and logistics sectors

• UK Safety Management Ltd (UKSM) – added in June 2025 to strengthen PTSG’s electrical compliance services, including PAT testing, fixed wiring inspections, and emergency lighting checks

  
  

PTSG now operates five core divisions — Access & Safety, Electrical Services, Fire Solutions, Building Access, and Water Treatment — and serves over 20,000 clients across the UK. It is firmly established as the market’s leading specialist services consolidator.

Private Equity and Institutional Backers Are Drawn to TICC

• Regulatory drivers: e.g. Post-Grenfell building regulations, environmental legislation, fire safety reforms and ESG disclosure rules are all fuelling demand.

• Highly fragmented market: Thousands of owner-managed, specialist businesses operate across regions and service lines.

• Recurring revenues: Long-term contracts and mandatory compliance requirements provide stable, predictable income streams.

• Scalability: Centralised operations, cross-selling opportunities and digital systems can unlock operating leverage across acquired firms.

Outlook: Continued Consolidation, International Expansion, and Digital Innovation

Platforms such as Phenna, Celnor, and PTSG exemplify the fast-paced consolidation taking place in the UK’s compliance and technical services sector. Going forward, the market may see further vertical integration, the acquisition of digital compliance platforms, and strategic exits to global TIC players such as SGS, Bureau Veritas, or Applus+.

The UK TICC market remains in the early stages of a consolidation wave — but momentum is building rapidly, with private equity and corporates alike seeking to acquire high-quality, specialist businesses.