Houlihan Lokey Advises A-Star Group

Houlihan Lokey is pleased to announce that A-Star Testing & Inspection Pte. Ltd. (A-Star Group), a leading global UTM, NDT, and third-party inspection company, has been acquired by Phenna Group, a dynamic organization of specialist businesses focused on the testing, inspection, certification, and compliance (TICC) sector. The transaction closed on February 9, 2022.

A-Star Group was first established in 2008 and is a leading global ship survey and class-approved UTM, conventional NDT, advanced NDT, heat treatment, and third-party inspection company with its corporate head office in Singapore and regional offices in Malaysia, Indonesia, India, and beyond. The business boasts more than 300 qualified professionals certified in PCN and ASNT for advanced and conventional NDT methods, in addition to IRATA rope access qualifications. The company provides its wide range of services to blue-chip clients in the marine, offshore, oil and gas, petrochemical, and renewables industries in Singapore and across the EMEA and APAC regions. These services are endorsed by a wide range of classification societies, certification bodies, and accreditation counsels worldwide.

Headquartered in Nottingham, England, Phenna Group aims to invest in and partner with selected niche, independent TICC companies that serve a variety of sectors, ensuring customers’ peace of mind by delivering first-class assurance services. Phenna Group’s portfolio consists of 24 businesses (spanning four continents), several end markets, and is home to more than 1,100 employees. This is the first acquisition made by Phenna Group in 2022 and its first in Singapore, adding strength and depth to its NDT & Industrials Division.

Houlihan Lokey served as the exclusive financial advisor to A-Star Group and assisted in initiating, structuring, and negotiating the transaction on behalf of the company. This deal exemplifies the continued success of Houlihan Lokey’s dedicated coverage of the business services sector.