Clearwater UK has advised on the sale of a majority stake in CET Structures Limited (CET), a specialist provider of infrastructure and property assurance services, to Palatine Private Equity, in a secondary buy-out. The deal was supported by debt and working capital facilities from Clydesdale and Yorkshire Bank Acquisition Finance and Beechbrook Capital. The transaction sees The Equity Harvest Fund exit the business.
CET employs over 470 staff and was established in 1989. The property assurance arm of the business provides specialist claim response, property risk investigation and issue mitigation services for the UK insurance claims sector. CET’s infrastructure division operates from a nationwide network of regional offices and UKAS accredited testing laboratories, providing a comprehensive range of materials testing and inspection services.
This latest investment will allow CET’s Property Assurance business to develop new technology that will streamline the claims management and investigation process. The infrastructure business plans to roll out additional testing facilities across the UK to capitalise on the growth within this sector. The business will continue its buy and build strategy for both divisions, broadening service capability and geographical reach.
