Benchmark International has Advised on the Transaction Between GMES and Phenna Group
Nottingham-based Phenna Group has acquired Yorkshire-based Group Management Electrical Surveys (GMES) as part of its buy and build strategy.
Established in 1990, GMES provides specialist electrical services to international blue-chip clients. It concentrates on delivering independent electrical inspection and testing services in line with BS7671 and IET Guidance Note 3 for all types of new build electrical installations, in addition to thermal imaging surveys and electrical installation condition reports.
Phenna is a group of specialist businesses focused on the testing, inspection, certification, and compliance (TICC) sector. Its aim is to build a global portfolio of independent TICC businesses, with GMES representing Phenna Group's fifth acquisition since its formation less than 12 months ago.
Steve Cressey, Managing Director of GMES will continue in his current role, alongside the company's very experienced management team and highly skilled workforce.
Commenting on the transaction, Mr Cressey said: "I am delighted to join the Phenna Group portfolio of companies. The company has excellent credentials in the TICC sector and demonstrated close alignment with our values and entrepreneurial spirit. Selecting the right partner who shared our ambitions for growth, who would give us the support and backing to achieve these goals was key and I firmly believe Phenna Group will deliver exactly that. I'm very excited about the future."
Paul Barry, Group CEO of Phenna Group, said: "I'm delighted that Steve and his team have joined our Group. The company fits closely with our strategy of creating a differentiated group of niche TICC businesses and has close customer and market synergies with our other portfolio company, Building Envelope Technologies Ltd. I'm looking forward to working with Steve and his team to deliver their ambitious growth plans."
Phenna Group is supported by CVC Credit Partners, a company that has committed capital to complete near term acquisition opportunities.
On behalf of everyone at Benchmark International, we would like to wish both parties every success for the future.
WE ARE READY WHEN YOU ARE
Call Benchmark International today if you are interested in an exit or growth strategy or if you are interested in acquiring.
Europe: Carl Settle at +44 (0) 161 359 4400 / Settle@BenchmarkCorporate.com
Americas: Sam Smoot at +1 813 898 2350 / Smoot@BenchmarkCorporate.com
Africa: Anthony McCardle at +27 (0) 21 300 2055 / McCardle@BenchmarkCorporate.com
Website: http://www.benchmarkcorporate.com (http://benchmarkcorporate.com/)