Acquisitive Business Completes Third Deal This Year With The Help Of Specialist Lawyers
The Corporate team at law firm Irwin Mitchell has advised Nottingham-based Phenna Group on its acquisition of XAIS Asset Management.
The acquisition of XAIS marks the latest stage in Phenna Group’s strategic drive to build a global portfolio of independent testing, inspection, certification and compliance (TICC) businesses that serve a variety of sectors.
Formed in 2015, XAIS provides a range of services and software to local authorities, highway network operators and international transport organisations looking to get best value from their highway asset management data and plans.
With over 30 expert staff, XAIS has the capability to conduct high-tech 360-degree HD image surveys with carriageway defects extracted automatically using advanced artificial intelligence. It has also developed a range of proprietary software to help local authorities and agencies capture, integrate and analyse data to inform their asset management and investment strategies.
Corporate partner Nick Dawson, along with Senior Associate Matt Smith, from Irwin Mitchell in Birmingham, advised Phenna Group on the deal. Earlier this year Irwin Mitchell advised Phenna Group on the purchase of CELTEST and Pavement Testing Services.
Expert Opinion“We’re delighted to have worked with the team at Phenna Group on what is our 3rd transaction together in the space of a matter of months. This is another important step forward for the business and I have no doubt this new partnership will provide a major boost as it continues to expand within the TICC sector.” Nick Dawson - Partner
Paul Barry, Group CEO of Phenna Group said: "I am delighted that Peter and James have chosen to partner with Phenna Group. XAIS have industry-leading software and services which will be highly complementary to our existing wide range of infrastructure testing and geotechnical services. I very much look forward to welcoming Peter, James and their team to Phenna Group.”
Peter Davidson, Executive Director of XAIS commented: "I am genuinely delighted to join Phenna Group. Over the last few years, XAIS has enjoyed steady growth and finding an industry experienced partner was our priority as we considered the next stage in the development of the company. Phenna Group ticked all the boxes and have been really straightforward throughout the process, giving us confidence in the future. Really excited to join such a fast-paced and supportive business team, I was impressed by their no-nonsense approach, wide sector experience and knowledge of our market and I’m convinced the business is in good hands.”