Key Takeaways
- • Goldman Sachs Alternatives has entered into a definitive agreement to acquire a majority stake in Celnor Group, a London-based testing, inspection, certification, and compliance platform focused on the built environment.
- • Celnor, founded in 2023, supports more than 20,000 clients, employs over 2,750 people across 60 locations, and generates annual revenue exceeding £300 million.
- • Founder and CEO Simon Parrington and the broader management team will remain invested alongside Goldman Sachs, while existing shareholder Inflexion Private Equity reinvests and keeps a minority position.
- • The transaction is subject to customary regulatory approvals and is expected to close in the first quarter of 2027.
- • Proceeds-backed growth plans center on international expansion in the United States and Continental Europe, technology and operational upgrades, talent investment, and a targeted buy-and-build acquisition strategy.
Summary
Goldman Sachs Alternatives has agreed to acquire a majority stake in Celnor Group, a London-based provider of testing, inspection, certification, and compliance services for the built environment, according to the company's announcement. Founder and Chief Executive Officer Simon Parrington and members of the management team will remain invested in the business alongside Goldman Sachs. Existing shareholder Inflexion Private Equity will reinvest and retain a minority position. The deal is subject to customary regulatory approvals and is expected to close in the first quarter of 2027. Financial terms were not disclosed in the source material.
Celnor was founded in 2023 and has grown rapidly through a combination of organic expansion and acquisitions. The company now serves more than 20,000 clients, employs over 2,750 people across 60 locations, and generates annual revenue exceeding £300 million. It operates across four divisions: Built Environment, Safety & Compliance, Risk Management, and Analytical Sciences, helping customers manage regulatory, safety, environmental, testing, inspection, data, and compliance requirements. The company has a broad presence across the United Kingdom and is expanding into the United States and Continental Europe.
Goldman Sachs' investment is intended to support the next stage of growth, with a particular focus on accelerating international expansion, strengthening technology and operational capabilities, investing in talent, and pursuing additional acquisitions. Management said the company sees significant opportunities in fragmented testing, inspection, certification, and compliance markets. Parrington and the existing management team will continue to lead Celnor after the transaction.
Jose Barreto, Partner within Private Equity at Goldman Sachs Alternatives, said the firm had built a close relationship with Parrington and the management team since Celnor's formation and was impressed by their track record of scaling the group through M&A. Harry Wilson, Investor within Private Equity at Goldman Sachs Alternatives, cited Celnor's differentiated position in an attractive end-market supported by technical expertise, compliance requirements and customer relationships. Tom Pemberton, Partner and Head of Enterprise Fund at Inflexion, described the company as a strong example of the firm's flexibility and value creation, while Investment Director Dominic Clark characterized Celnor as an example of buy-and-build done well.
Celnor and Inflexion were advised by Rothschild & Co on corporate finance, OC&C on commercial matters, Alvarez & Marsal on financial and tax matters, and Addleshaw Goddard and Slaughter and May on legal matters. Goldman Sachs Alternatives was advised by Houlihan Lokey on M&A, Linklaters on legal matters, and EY on financial and tax matters. Goldman Sachs Alternatives manages more than $706 billion in alternative assets across private equity, growth equity, venture capital, private credit, real estate, infrastructure, sustainability, and hedge fund strategies, and its private equity business has invested more than $75 billion since 1986.
Celnor was founded in 2023 and has grown rapidly through a combination of organic expansion and acquisitions. The company now serves more than 20,000 clients, employs over 2,750 people across 60 locations, and generates annual revenue exceeding £300 million. It operates across four divisions: Built Environment, Safety & Compliance, Risk Management, and Analytical Sciences, helping customers manage regulatory, safety, environmental, testing, inspection, data, and compliance requirements. The company has a broad presence across the United Kingdom and is expanding into the United States and Continental Europe.
Goldman Sachs' investment is intended to support the next stage of growth, with a particular focus on accelerating international expansion, strengthening technology and operational capabilities, investing in talent, and pursuing additional acquisitions. Management said the company sees significant opportunities in fragmented testing, inspection, certification, and compliance markets. Parrington and the existing management team will continue to lead Celnor after the transaction.
Jose Barreto, Partner within Private Equity at Goldman Sachs Alternatives, said the firm had built a close relationship with Parrington and the management team since Celnor's formation and was impressed by their track record of scaling the group through M&A. Harry Wilson, Investor within Private Equity at Goldman Sachs Alternatives, cited Celnor's differentiated position in an attractive end-market supported by technical expertise, compliance requirements and customer relationships. Tom Pemberton, Partner and Head of Enterprise Fund at Inflexion, described the company as a strong example of the firm's flexibility and value creation, while Investment Director Dominic Clark characterized Celnor as an example of buy-and-build done well.
Celnor and Inflexion were advised by Rothschild & Co on corporate finance, OC&C on commercial matters, Alvarez & Marsal on financial and tax matters, and Addleshaw Goddard and Slaughter and May on legal matters. Goldman Sachs Alternatives was advised by Houlihan Lokey on M&A, Linklaters on legal matters, and EY on financial and tax matters. Goldman Sachs Alternatives manages more than $706 billion in alternative assets across private equity, growth equity, venture capital, private credit, real estate, infrastructure, sustainability, and hedge fund strategies, and its private equity business has invested more than $75 billion since 1986.
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