Nottingham-headquartered Phenna Group, which aims to invest in and partner with selected niche, independent Testing, Inspection, Certification and Compliance (TICC) companies, has made its 12th acquisition of 2023.
Formed in 2009, ACI Reports, based in Skelmersdale, Lancashire is a provider of TM44 air conditioning inspection reports in the UK and a provider of EPC certificates and DEC certificates.
They work on a wide range of projects from individual retail shops to large scale national contracts. The company operates nationwide and occasionally for international clients, across diverse sectors and with a national network of TM44 air conditioning unit inspectors.
Jol Pearson, director of ACI, said: “We are really excited for ACI to be joining Phenna Group. Throughout the whole process the Phenna team have been very responsive, transparent and acted with a high degree of integrity.
“There are always some challenges undertaking an M&A process but with Phenna Group and their advisers it has been seamless and we are confident that Phenna will be the supportive partner that ACI needs to continue its growth plan and further cement its market leading position.
“As we transition out of the business, we will remain excited to see how the business develops going forward.”
Mick Grist, MD of Industrial Safety Inspections at Phenna Group, who will take over responsibility for ACI following a short transition period, said: “I’m delighted to be taking on responsibility for ACI. ACI has built a fantastic business and I’m excited to work with the team to continue building on their legacy as we move forward together.”
Paul Barry, Group CEO of Phenna Group, said: “Operating in complementary markets to several of our portfolio companies, we have been aware of ACI for some time and have seen it grow from strength to strength.
“I am excited about the future opportunities ACI will realise by having it as part of the wider Phenna Group. ACI have built an outstanding business with an excellent team to support them and I am confident of its future ambitions being realised.”
Phenna Group were advised by Johnston Carmichael and Avonhurst.
ACI were advised by Brabners Solicitors and Nero Accounting.
