Wed, 14 Aug 2024 | BUSINESS SALE
A Suffolk-based independent environmental consultancy has been sold to a private-equity backed group following a “highly competitive” sale process. Testing, inspection, certification and compliance services provider Celnor has acquired Seed Environmental in a deal supported by Evelyn Partners and Birketts.
The founders of Seed Environmental, which was established in 2013, appointed the Cambridge office of professional services and wealth management group Evelyn Partners to identify a buyer for the business.
Following the process of identifying a buyer, Evelyn Partners negotiated and advised on all financial and commercial aspects of the sale, with a Birketts team led by James Allen and Simona Gruodyte advising on all legal aspects.
Evelyn Partners’ David Ball, who led the transaction, commented: "Celnor is a serial acquirer of growing TICC businesses and is perfectly placed to support the team as the business enters its next phase of growth.”
"The deal is another example of us being able to bring to bear our considerable experience of working with fast growing entrepreneurial businesses, operating alongside shareholders and management teams to support their growth journey and position them in the best possible way for an exit."
Seed Environmental co-founder Matthew Watts said that David Ball and the Evelyn Partners team had guided the company through “what was a complex and often challenging transaction.”
He continued: "Whilst there were many ups and downs along the way, they were always there to offer reassurance when required, and the support and advice we received throughout has been first class."
James Allen, partner in Birketts’ corporate team, added: "It was a pleasure to work with the shareholders to secure the next stage of growth for the Seed companies, bringing additional investment that will help the team to achieve their goals.”
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