Initial Investment: 23/11/2018
Sector: Business Services
Fund: Buyout Fund III
- Introduced a new managing director with strong TIC sector experience.
- Supported with sourcing and execution of nine acquisitions to date broadening CTS’s geographical coverage.
- Rolled out and improved existing field and lab workflow system across the business.
- Undertook lean process review to enhance efficiency of laboratory services.
- Introduced a new financial director with private equity experience to support transition to standalone business.
- Exited the business with a return of 5.8x
Phil and the CTS team are focusing on strategic M&A to broaden the business’ geographic reach and service offering. The business has completed four acquisitions since our investment and continues to actively pursue a number of targets. We have supported the business in broadening its management team and developing its people strategy. Management’s growth plans also include a continuation of the digitalisation initiatives to drive further operational enhancement.
Over the last four years of partnership, Palatine has proven itself to be an outstanding and highly supportive investor. Together we have achieved remarkable growth, scaled the business significantly and enhanced our proposition to customers. All of this has paved the way for further long term success as we become part of a larger, ambitious, international group with the backing of Oakley Capital.