CET Group exit for Dunedin in secondary buyout

CET Group Holdings Limited (“CET”), a provider of specialist insurance and materials testing services, has been sold in November 2018 by its majority owner, private equity fund Dunedin, in a secondary buyout transaction to Palatine Private Equity for an undisclosed amount.

WayPoint had supported CET in a very successful turnaround since Nick Winks became Chairman and CRO in May 2010 and was later joined by Andy Pearson as interim CFO and latterly finance NED. Revenues grew from £14m in 2011 to £32m in 2018, in part through a string of initially small but very successful bolt on acquisitions. Underlying EBITDA was reported at £3.7m in 2018.

Nick Winks commented “WayPoint is very pleased to have contributed over several years to an excellent investment outcome for Dunedin from the sale of a high performing business.”

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