Platinum Equity acquires Terratest

The fresh capital comes as part of a recapitalisation plan, which deleverages the company and gives Platinum a controlling stake.

Following the investment, the company will look to make acquisitions and grow organically.

In the past four years, Terratest has expanded its operations throughout Europe, Latin America, Africa and the Middle East.

Capital for the transaction was drawn from Platinum Equity Capital Partners III, which held its final close on €3.75bn in September last year.

Company
Headquartered in Madrid, Terratest is a ground engineering business specialising in foundation work, ground improvement and micro-tunneling services for infrastructure, and industrial, commercial and residential projects.

The company was founded under the name Craelius Diabor in 1959 as a subsidiary of the Swedish company Sveska Diamantberborrin.

People
Platinum Equity partner Jacob Kotzubei led the deal for the GP. Enrique Torres is CEO of Terratest.

Advisers
Equity – Sigrun Partners (Corporate finance); Gómez-Acebo & Pombo (Legal).

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