mynth
03/2026

ICA GROUP acquired by CERTANIA

UNITED KINGDOM Industrial Services / TIC (Testing, Inspection, Certification) EV 20M - 50M GBP

Context

CERTANIA Holding GmbH has completed the acquisition of ICA Group from CEPS PLC and other shareholders. The acquisition was structured with an upfront payment and a contingent earn,out payment for certain shareholders, though the primary corporate seller received full consideration for its equity ownership upon completion to ensure a fully de-risked exit. This transaction strengthens the acquirer's Buildings and Infrastructure segment in the United Kingdom and Ireland, complementing existing portfolio companies such as BB7 and Clarke Banks. Strategic rationale for the deal includes expanding the group,s capabilities in building safety, gas and electrical auditing, and regulatory assurance across the UK construction sector. A portion of the proceeds from the disposal was utilized by the seller to repay existing external debt and provide additional resources for its remaining strategic business drivers. The target will continue to operate under its established management team and brands within the broader international group structure.

ICA GROUP, which reported an EBITDA margin of in 2025, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Business Services sector (11.4x).

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Target

ICA Group is a UK,based holding company comprising several specialist businesses focused on quality, compliance, and sustainability within the built environment. Its business model integrates multi-disciplinary services across four core streams: quality site inspection (Clerk of Works), building control, gas and electrical auditing (specifically for social housing), and fire safety consultancy. The group operates through established brands such as Cook Brown Building Control, Hickton Quality Control, and Morgan Lambert, providing regulatory assurance and standards advisory throughout the UK construction sector. By ensuring project delivery meets stringent building regulations and safety standards, ICA Group serves as a critical partner for clients navigating an increasingly complex regulatory landscape. Its value proposition is centered on technical expertise and a comprehensive service portfolio that covers the entire building lifecycle, from initial construction oversight to ongoing safety compliance.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (GBP)

Year
Rev
EBITDA
EBIT
2025
2024

Similar deals in Industrial Services

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
DateAcquirerTargetCountrySector
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03/2026STUDSVIKKÄRNFULLSWEDENEngineering & Consulting
03/2026GRAFTON GROUPMERCALUZSPAINIndustrial & Technical Distribution
02/2026PENINSULA CAPITALEUROPEAN QUALITY ASSURANCESPAINTIC (Testing, Inspection, Certification)
02/2026PHENNA GROUPSIGMA TREITALYTIC (Testing, Inspection, Certification)
01/2026EMAGINEWAADA THE MOVEMENTNETHERLANDSEngineering & Consulting
12/2025VULCAIN INGENIERIEINCICOITALYEngineering & Consulting
12/2025DXP ENTERPRISESPUMP SOLUTIONSUNITED STATESIndustrial & Technical Distribution

REFERENCES

Valuation range: EV 20M - 50M GBP

Revenue range: 10M - 30M GBP

EBITDA range: 0M - 5M GBP

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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.