Kartesia, a leading European specialist provider of financing solutions, is pleased to announce it has provided a unitranche financing facility to support the acquisition of Forensic Testing Service by Forensic Access (“the Company”), a portfolio company of UK private equity firm Limerston Capital.
Forensic Access is one of the UK’s top four providers of analytical services to the legal, policing and clinical sectors through toxicology, forensic services, and digital and cyber investigations. A Limerston Capital portfolio company since 2020, Forensic Testing Service is the fifth bolt-on acquisition the Company has completed under Limerston’s ownership. Forensic Testing Service was founded in 2009 and provides testing services designed specifically for Family Law and Child Care Proceedings and has since grown to 72 employees with its own dedicated labs in West Yorkshire.
Founded in 2015 by James Paget, João Rosa and Martim Avillez, London-based Limerston Capital pursues control investments in UK mid-market companies and seeks to create value through the firm’s buy-and-build and operationally focused model. This is the first transaction completed by Kartesia in partnership with Limerston, with capital for the investment drawn from Kartesia’s Senior Opportunities I (KSO I) and Senior Opportunities II (KSO II) funds.
Nick Holman, Head of UK & Ireland at Kartesia, commented: “We are delighted to support the continued growth of Forensic Access as it announces its fifth bolt-on acquisition in three years. We have strong conviction in the structural drivers for the forensic services market and Forensic Access is well-positioned to grow organically and through strategic acquisitions. Limerston Capital has a proven track record in building successful and sustainable businesses in the UK mid-market and we are happy to close our first deal with the team as we continue to expand our lending platform in the UK.”
Martim Avillez at Limerston Capital, added: “This latest bolt-on acquisition by Forensic Access means the Company is well-positioned to take advantage of increasing demand for forensic services across a number of sectors in the UK, and reflects our belief that inorganic growth is essential to creating sector leaders in the UK mid-market. We are pleased to have Kartesia on board as their flexible financing solutions are a perfect fit for the type of operating model we are implementing at Forensic Access. We look forward to working closely with Nick and his team in future.”