Core acquires UK engineering group Turbine Efficiency

Core Capital has acquired a majority stake in UK engineering group Turbine Efficiency. 

The firm will invest £4m (€4.5m) in the business initially and put aside an additional sum of around £5m for further investments for purposes potentially including acquisitions, Real Deals understands.

The investment is being made from the firm’s second fund, which closed in September 2015 at £85m.

Headquartered in Lincoln, Turbine Efficiency offers maintenance, repair and overhaul services for industrial gas turbines for customers in the power, oil and gas, and industrial sectors. It reported turnover of around £8.7m for 2014.

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