Latest news with #CuraTerrae
Spectator
31-07-2025
- Business
- Spectator
In defence of private equity
Spectator readers will not need me to tell them the meaning of the Latin 'cura terrae'. Taking care of the Earth was one of central arguments of last week's front-page feature against private equity. But Cura Terrae also happens to be the name of a business based in Sheffield. This business is an environmental services provider dedicated to helping preserve the world and the natural resources that we all love and cherish. One of its particular strengths is its water services division, where its team of specialists monitor water flow and quality across the UK. By doing so, they help to protect our rivers from the kind of water pollution which last week's article quite rightly highlighted. It is a great British success story, which, over the past three-and-a-half years – since its inception following investment from private-equity firm Palatine – has made five acquisitions, added over 60 per cent to its workforce, and made numerous improvements to its operations and services. The support from Palatine has helped Cura Terrae grow, develop and invest in a wide range of solutions to some of the industry's most challenging issues, and it is just one of many such success stories across the UK. The reality is I could fill this article with similar examples, covering every sector of the economy and every region of the UK. Private equity supports the growth of well-known businesses including health and fitness chain David Lloyd Leisure, global entertainment company Merlin and leading software group Visma. These businesses – and many others – demonstrate the value that private equity is delivering to Britain. In 2024 alone, £29.4 billion was invested in UK firms by private equity and venture capital, with six in ten of those companies located outside London. Across the UK, more than 2.5 million people work in businesses backed by the industry: nearly one in ten UK workers. The old stereotype of private equity was that it invested for the short term to 'flip' a business and make a quick buck. This is just not true. The average hold period of an investment in the UK is six years – significantly longer than many equities held by large shareholders and hedge funds. And because the industry is built on performance – and on returns generated when a business grows and succeeds – there is a fundamental alignment between investors, management and employees. If the company does well, everyone benefits. Of course, no industry is perfect. When firms get it wrong, they should be called out. And the private equity sector, like any other, must be held to high standards. But that is happening. Sir David Walker established guidelines for the industry in 2007 to increase disclosure and transparency in private equity-backed companies. These guidelines have been widely embraced, with many large private equity-backed firms disclosing information at a level that is comparable with companies in the FTSE 250. Almost all major private equity-backed firms in the UK now operate to similar standards of governance as any listed business. The old stereotype of private equity was that it invested for the short term to 'flip' a business and make a quick buck. This is just not true Of course, journalists are entitled to scrutinise different investment models. But when we look at the water industry specifically, the recent Independent Water Commission Final Report made clear that there are a wide variety of different investors in English water companies, including pension funds, sovereign wealth funds, global infrastructure conglomerates, asset managers and insurance companies. To suggest the water industry's challenges are due to private equity ignores the facts. Indeed, according to our own analysis, we have not found a single water company majority-owned by a private equity fund. The simple, straightforward – and actually quite boring – reality is that the modern private equity industry looks nothing like the 1980s financiers in braces, whose business was so-called 'corporate raiding' and 'asset stripping'. The private equity industry is investing in high streets, high tech, carbon capture and café chains. It is backing biotech firms in Oxford, zero-waste start-ups in Glasgow, and specialist engineering businesses in Leicester. At a time when state capacity is stretched and public delivery often lags, private capital is quietly stepping in to get things done. To return to our business in Sheffield: taking care of the Earth is a moral imperative. But it is also good business. That is why the private equity industry continues to invest in the UK's future – backing green growth, supporting entrepreneurs and helping rebuild prosperity from the ground up. Private equity brings more than just capital – it brings partnership, ambition and resilience. By crowding in global investment into British businesses, this industry creates a ripple effect. Investment unlocks investment, which leads to more growth and more vibrant local economies. The UK needs more of this industry, not less.
Scotsman
28-07-2025
- Business
- Scotsman
Palatine-backed Cura Terrae boosts growth with key acquisition
Duar Fleming, MD of EnviroCentre and Nick Dilworth, CEO of Cura Terrae. Cura Terrae, the fast-growing environmental services company backed by Palatine's Impact Fund, has stepped up its expansion with the acquisition of EnviroCentre, a market-leading multi-disciplinary environmental consultancy based in Scotland. Sign up to our Scotsman Money newsletter, covering all you need to know to help manage your money. Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... The business, which has a team of 75, will become part of Cura Terrae's Land and Nature division, bringing expertise in geo-environmental services and water management and engineering, as well as enhanced capabilities in Environmental Impact Assessments (EIA) and ecology. This addition will enable the expanded group to offer a comprehensive environmental service across the entire UK, with the four Scottish locations, in Glasgow, Edinburgh, Inverness and Aberdeenshire, enhancing Cura Terrae's national network and supporting clients as they respond to increasingly complex environmental needs. Advertisement Hide Ad Advertisement Hide Ad This acquisition is Sheffield-based Cura Terrae's fifth since its formation in 2022 and represents the group's largest transaction to date. It is a significant milestone in Cura Terrae's ambition to build a connected, collaborative group of environmental specialists and reinforces its mission to empower businesses to take care of the Earth. Established in 1995, EnviroCentre has delivered environmental consultancy services for over 30 years in support of some of the most significant infrastructure projects in Scotland, building a strong reputation for technical excellence with a wide range of long-standing clients. Nick Dilworth, CEO of Cura Terrae said: 'We're proud to welcome EnviroCentre into the Cura Terrae group. From the outset, it was clear that we shared not only technical goals, but a common purpose. 'This acquisition brings complementary expertise and geographic reach to the group, while adding a team of people whose values closely align with our own. The addition of EnviroCentre to the Cura Terrae group will provide fantastic opportunities for our people to flourish with clients benefiting from a greater depth and breadth of services.' Advertisement Hide Ad Advertisement Hide Ad EnviroCentre will provide a significant boost to Cura Terrae's presence in Scotland, bringing the total number of professionals in the Land and Nature business to over 175 across the UK and the broader Cura Terrae group to around 400. The combination presents an exciting opportunity to expand services both sides of the border, and for clients to benefit from the broader group resources. Duar Fleming, MD of EnviroCentre said: 'Joining Cura Terrae is an exciting step for our team. To grow the impact of our work we wanted to find a partner who understood our culture, respected our people, and shared our long-term goal toto enhance the environment. Greg Holmes, Investment Director in the Palatine Impact Fund, added: 'This is an important strategic acquisition for Cura Terrae, broadening its service capabilities and its geographic reach. Advertisement Hide Ad Advertisement Hide Ad 'We continue to work with Nick and the team to identify other suitable targets that will further enhance Cura Terrae's growth and mission to take care of the earth.' Cura Terrae's integration team is focused on working with EnviroCentre's senior leadership to ensure a smooth transition for clients and employees, focused on continuity of service quality and delivering added value to all. Cura Terrae were advised by Hill Dickinson Manchester Corporate (Graeme Anderson and James Down) along with employment colleagues David Parry and Isobel Pye. Forvis Mazars LLP provided Financial Due Diligence (Alex Bell, Ed Shires and Tarifa Simpson) and Tax Due Diligence (David Burke and Chloe Twidale). Advertisement Hide Ad Advertisement Hide Ad Bellweather Green Corporate (Stephanie Farrell, April Bingham and Paige Murray) advised the shareholders of EnviroCentre and taxation advice was also provided by tax specialists, Robertson Craig (John Fowlie and Holly Birnie). The EnviroCentre shareholders have been supported on strategic matters over a period by consultant Kevin Windram culminating in this exit to a carefully selected partner.
