Palatine acquired CET UK.

Palatine has taken a majority stake in the CET UK, which employs over 470 staff and was established in 1989 in Castle Donington. The deal was supported by debt and working capital facilities from Clydesdale and Yorkshire Bank Acquisition Finance and Beechbook Capital. 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. The deal will see Palatine back the incumbent management team, which is headed by CEO, Peter Eglinton. The transaction, which was completed by Palatine’s Midlands office, was led by Tony Dickin, Richard Thomas and Tom Hustler. The deal will see The Equity Harvest Fund exit the business.