Houlihan Lokey Advises Phenna/Oakley

Houlihan Lokey is pleased to announce that Oakley Capital (Oakley) has successfully secured an upsizing of its debt facility, originally put in place in August 2022 to support its acquisition of Phenna Group, a fast-growing international testing inspection certification and compliance (TICC) platform. Houlihan Lokey served as the exclusive financing advisor on this transaction.

Formed in 2018, Phenna has rapidly emerged as one of the fastest-growing TICC groups globally, with revenue growth of approximately 100% CAGR over the past three years. Today the group comprises 38+ independent businesses, which provide specialist TICC services across infrastructure, built environment, niche industrial, pharmaceutical and certification, and compliance divisions. The business operates across 12 countries on four continents.

CTS Group is a leading provider of testing, inspection, and geoengineering consulting services in the UK, primarily focused on long-term civil infrastructure projects. The business has more than doubled revenues over the past three years through organic growth and targeted acquisitions.

The existing CTS management team will continue to lead the business within the wider group. CTS and Phenna Group offer complementary services. Their combined UK-wide network of laboratories, site-based services, and geotechnical expertise will ensure customers benefit from an expanded service offering.

Founded in 2002, Oakley Capital has demonstrated its repeated ability to source attractive growth assets by relying on its sector and regional expertise by tackling transaction complexity and through its deal-generating entrepreneur network. Over 20 years, Oakley has raised more than €3.5 billion across five funds from its investors. It has backed over 40 middle-market businesses and completed 100+ bolt-on acquisitions.

Houlihan Lokey acted as the exclusive financing advisor to Oakley to arrange, structure, and negotiate the debt raise.