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Finance

Inflexion sells majority stake in Celnor to Goldman Sachs Alternatives

Published by Global Banking & Finance Review

Posted on October 23, 2026

2 min read

· Last updated: October 23, 2026

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Inflexion Sells Majority Stake in Celnor Group to Goldman Sachs Alternatives

Overview of the Inflexion and Goldman Sachs Alternatives Deal

Deal Announcement and Valuation

Oct 23 (Reuters) - Private equity firm Inflexion said on Friday it would sell a majority stake in British testing and safety compliance company Celnor Group to Goldman Sachs Alternatives.

Deal Terms and Financial Details

• Terms of the deal were not disclosed, but the deal values Celnor at €1 billion ($1.12 billion), according to a person familiar with the situation

Inflexion's Continued Involvement

• Inflexion said it will keep a minority stake in Celnor, a company it helped set up in 2023

Celnor Group's Growth and Strategy

Acquisition-led Expansion

• Celnor has pursued an acquisition-led strategy, gaining momentum in the UK and expanding in the US and Europe, the European private equity firm said

Notable Acquisitions

• The company has previously acquired US-based firms such as John Turner Consulting and French firms Tera Environnement and Toxilabo

Service Offerings and Future Plans

• Celnor, whose services span asbestos testing to food safety research, said in a separate statement that Goldman Sachs will support its expansion in the US and Continental Europe and bolster its acquisition capabilities

Additional Information

Goldman Sachs' Response

• Goldman Sachs declined to comment when contacted by Reuters

Currency Exchange Rate

($1 = 0.8928 euros)

(Reporting by Simone Lobo in Bengaluru; Editing by Vijay Kishore)

Key Takeaways

  • Celnor, formed by Inflexion in 2023, supports over 20,000 clients across 60 locations and generates annual revenues exceeding £300 million (inflexion.com)
  • The deal values Celnor at about €1 billion (~£900 million), underlining the rapid growth of its buy‑and‑build strategy (inflexion.com)
  • Goldman Sachs Alternatives will back Celnor’s further expansion in the US and Continental Europe, and bolster its acquisition capabilities, while Inflexion remains a minority investor (inflexion.com)

References

Frequently Asked Questions

Who acquired the majority stake in Celnor Group?
Goldman Sachs Alternatives acquired the majority stake in Celnor Group from Inflexion.
What is the estimated value of the Celnor Group deal?
The deal values Celnor Group at approximately €1 billion ($1.12 billion).
Will Inflexion remain involved with Celnor after the sale?
Yes, Inflexion will retain a minority stake in Celnor Group.
What strategy has Celnor Group used for its growth?
Celnor has pursued an acquisition-led strategy, expanding in the UK, US, and Europe.
What support will Goldman Sachs provide to Celnor?
Goldman Sachs will aid Celnor’s expansion in the US and Continental Europe and strengthen its acquisition capabilities.

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