Kartesia, the European specialist provider of capital solutions for small and mid-sized companies, is pleased to announce it has provided a financing solution to support mid-market private equity firm Palatine Private Equity (“Palatine”) and its portfolio company, Leicester-based Construction Testing Solutions (“CTS” or “the Company”).
Established in 2006, CTS is one of the UK’s leading providers of regulatory driven testing, inspection and certification (TIC) services to the infrastructure & construction industry, delivering high quality on-site and laboratory testing, geo-environmental, geo-engineering and structural assessment services to a well diversified client base. Kartesia’s facility proceeds will support Palatine in facilitating CTS’s inorganic growth efforts.
The capital for this transaction was funded from Kartesia Senior Opportunities I (KSO I), which has now completed twelve investments in the UK market since the launch of the strategy in 2020. The deal team at Kartesia comprised Nick Holman, Kamil Kapasi and Karan Patole. The investment also marks Kartesia’s second transaction with Palatine Private Equity.
Nick Holman, Director at Kartesia, commented: “We are delighted to complete our second transaction with Palatine and support CTS; a resilient and critical service provider with an excellent track record in the UK market. Our capital will help the Company continue its impressive growth story and fulfil its buy-and-build ambitions. It’s been a positive end to a successful year for the Kartesia team and we are proud to have completed eight UK transactions this year from our first senior fund, providing flexible capital solutions to growing UK mid-market businesses. We look forward to carrying this momentum into 2022.”