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Inflexion announces sale of minority investment in Phenna

Inflexion is pleased to announce it has agreed to sell its minority investment in Phenna Group (“Phenna”), a global business focused on the Testing, Inspection, Certification and Compliance (“TICC”) sector, to Oakley Capital in a transaction that values Phenna at over £1 billion. The partnership delivers a strong return following significant international, acquisitive, and organisational development supported by Inflexion’s substantial sector and M&A expertise.

The announcement marks the first exit for Partnership Capital II and is the 10th exit announced by Inflexion during 2022. Together they have a combined valuation of over £3.5bn.

The sale of its minority stake in Phenna adds to Inflexion’s impressive history of successfully backing businesses in the sector, with successful investments including Alcumus, British Engineering Services and Cawood Scientific.

Inflexion Partnership Capital completed a minority investment in Phenna in February 2021, and the 18-month partnership more than doubled EBITDA and tripled headcount as an international TICC platform of scale was created. The growth was supported by Inflexion’s significant sector and M&A experience which enabled Phenna to undertake 23 acquisitions in six countries as the firm expanded geographically and into new end-market sectors. Inflexion also supported the build-out of the leadership team, including the appointment of a seasoned Chair.

Completion of the transaction is subject to customary regulatory clearance and is expected to occur in the fourth quarter of 2022.

Phenna Group

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