Inflexion is pleased to announce a majority investment in Celnor, a newly established platform for testing, inspection, certification and compliance (“TICC”) businesses. The investment was made from Enterprise Fund V.
Celnor was launched to consolidate a highly fragmented TICC market across two areas. Life Sciences will provide testing and scientific services to customers active in the Biochemicals, Industrials and Pharmaceuticals industries. Environmental and Industrial Services will focus on testing, inspection and certification of assets, people and processes, such as testing for workplace safety.
To date the business has completed three acquisitions and has a strong pipeline of further opportunities it expects to complete before the year end.
Inflexion has built up industry-leading expertise in consolidating the TICC market through a number of successful investments in the sector. These include Phenna Group (23 acquisitions tripling headcount in an 18-month partnership), Alcumus (nine acquisitions expanding the offering and international footprint), BES Group (15 acquisitions broadening the product reach), and Cawood Scientific (three acquisition in two years).
The TICC sector remains an attractive market for consolidation and so the prospects for Celnor are strong. Given our experience in both the sector and with buy-and-build strategies, we are delighted to be partnering with Simon and his team at Celnor to help accelerate their ambition and build something of scale and excellence in this exciting market.
We are delighted to be partnering with Inflexion, whose unrivalled expertise in our sector as well as proven buy-and-build experience make them the right investor as we create a business where entrepreneurial, founder-led companies can thrive. Their proactive yet thoughtful approach suits Celnor and allows us to move quickly when the right opportunity arises.