Bolt-on Acquisition for Sponsor-backed TIC Company
CIGP advised Phenna Group, an Oakley Capital portfolio company active in the Testing, Inspection and Certification (“TIC”) sector, on their add-on acquisition of Aucatel-EIC Group, a leading Spanish real estate and infrastructure inspection and certification body.
Transaction Highlights
CIGP acted as the buy-side advisor to Phenna Group, supporting the execution, structuring and negotiation of its acquisition of Aucatel-EIC Group and its subsidiaries.
Phenna was formed in 2019 through a management buyout and was subsequently majority-acquired by Oakley Capital in 2022; since its acquisition, Oakley has executed an active M&A add-on strategy, completing more than 45 acquisitions.
Founded in 2009 and headquartered in Madrid and Barcelona, Aucatel-EIC Group provides inspection and certification services for infrastructure and buildings across Spanish regions.
Role of CIGP
Counterparty identification and off-market access: CIGP assisted Phenna in identifying and accessing an off-market acquisition opportunity in a sizeable Spanish target that was a strong fit for their bolt-on M&A strategy and geographic expansion targets.
Process management, structuring and negotiation: CIGP assisted Phenna Group’s in-house M&A team on identifying a suitable deal structure whilst supporting them on process management and negotiations with the counterparty and their advisers.
