Management Due Diligence specialists, The Quinn Partnership, has advised Palatine Private Equity on their investment in EPI, a seismic consultancy to the energy industry.

EPI which is headquartered in Surrey (UK), is a world-class leader in consultancy services to the energy industry, covering a broad range of technical disciplines including specialist knowledge of seismic quality control. The company has offices in Houston (US), the Middle East and provides services across the globe to the world’s leading energy businesses including BP, Shell, ExxonMobil, Statoil and Total.

The MBO is being led by CEO Edward Bowen and is the sixth investment from Palatine’s second fund, which held its final close in June 2013 at £150m.

The management team have delivered significant growth in recent years, increasing revenues from £9m in 2009 to £24m in the current financial year. In doing so EPI has become the second largest operator in its market place. The business is well placed to grow organically via further geographical expansion and increased diversification of the services it provides. The company also intends to embark on a buy and build strategy as it looks to strengthen its portfolio of clients and services over the next few years.

Tony Dickin, a founding partner of Palatine, led the transaction and joins the EPI board with immediate effect, alongside Steve Donaldson, Palatine’s Head of Portfolio. As part of the deal Ian Langley, who Palatine successfully backed as Chairman of Air Energi, will join the board.

Edward Bowen, CEO, EPI Group, said: “We are delighted to have entered into a partnership with Palatine, which will enable us to continue to grow the business internationally. Retaining our core values we will embark on an exciting journey to continually diversify our client portfolio, whilst increasing the number of specialist services within the Group. Moving forward, drawing on Ian Langley’s wealth of international expertise, we can ensure we continue to meet our client’s demands for specialist support services across the globe.”

Tony Dickin, Partner, Palatine Private Equity, added: “We are really looking forward to working with the management team at EPI as the business expands its client base in the energy sector and develops its portfolio of services both in the UK and on a global scale. EPI is in a strong position to generate organic growth and is an excellent platform for acquisitions.”

Paul Quinn, Director at The Quinn Partnership commented, “Ed’s passion for the business at EPI and a balanced blend of experience and dynamism will be significant drivers for success. We’re pleased to have supported Palatine again as they continue their successful run of investments in 2014”.

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