Phenna Group

Sector

Business Services

Fund

Fund V

Year

2022

Location

Status

Current

Phenna is one of the fastest growing TICC groups globally.

Operates in

End-markets

Operates in

>15

Countries

TICC

£250bn

Global market

Leading Testing, Inspection, Certification and Compliance ("TICC") platform.

Formed in 2018, Phenna has rapidly emerged as one of the fastest growing TICC groups globally, with revenue growth of c.100% CAGR over the last three years. Today the group comprises over 15 service lines which provide specialist TICC services across infrastructure, built environment, niche industrial, pharmaceutical and certification and compliance divisions.

Phenna provides TICC services covering five verticals and operates in over 15 countries across four continents.

We were attracted to Oakley’s deep expertise in M&A execution and integration, as well as their strong track record in helping businesses to internationalise at scale. As we look to the future, we’re excited to be working with them and together delivering on our mission to grow Phenna into a leading global TICC player.

Paul Barry

Founder and CEO — Phenna Group

Market dynamics

The global TICC market is worth over £250 billion and remains highly fragmented with the top 10 groups accounting for only 12% of the market. The market is forecast to grow at over 5% p.a. driven by regulatory trends, increased outsourcing, and exposure to growing end markets. Customer demand is typically non-discretionary due to mandatory testing requirements. Customers are highly loyal. Phenna is diversified across multiple end markets and geographies.