The Specialist Group Acquires Litecad
The Specialist Group (“TSG”), a leading provider of technical engineering specialists for sectors such as power, chemicals, infrastructure, renewables and life sciences, today announced that it has acquired Litecad, a provider of technical experts and services for the power, infrastructure and industrial sectors. Financial terms were not disclosed.
Litecad focuses on providing engineering services that support its clients’ sustainability projects, further strengthening TSG’s capabilities in renewable energy, as well as expanding its presence in the Northeast of the Netherlands. The acquisition of Litecad increases TSG’s number of technical specialists to nearly 2,800 and serves as an important milestone in its ambitious five-year growth plan. Together, TSG and Litecad will continue supporting clients in their transition towards new energy and sustainable operations, including advising on hydrogen production, grid hardening, energy efficiency driven modifications and electrification of existing assets.
Sil Hoeve, Chief Executive Officer at TSG, said “We have long-admired Litecad’s engineering expertise and, over the last decade, TSG and Litecad have strengthened our strategic partnership. Today’s announcement is a natural and exciting next chapter of our growth together and builds on our successful track record of providing robust services to our shared clients. Through the TSG Academy and Litecad Campus, we are focused on the development and training of new motivated specialists. Together, we look forward to continuing to provide unmatched services to existing and new clients undertaking important and complex energy transition projects.”
Arjan Poppema, Director at Litecad, said “By joining forces with The Specialist Group, we are better positioned to contribute to the challenges of the energy transition and creating a more sustainable industry. We look forward to leveraging our combined successful track record, focus on quality, training and long-term customer relationships to further strengthen our position in the market.”
Litecad will continue to operate under its existing brand with Arjan Poppema as Director, reporting to Sil Hoeve. The transaction closed on 23 February 2023.
About The Specialist Group
The Specialist Group is a platform that deploys technical engineering specialists on a project basis. TSG serves >350 clients across technical end-markets such as power, chemicals, infrastructure, renewables and life sciences with a focus on enabling the energy transition. Currently over 80% of TSG’s specialists are involved in projects supporting the energy transition and the creation of a more sustainable industrial environment. The Company operates via six labels (STAR Group, Sentijn, Or-Quest, Litecad, Fellow and ECC Solutions) and provides regional coverage across the Netherlands, Belgium, Germany, Sweden and Austria, focussing on both experienced candidates and young professionals. TSG is backed by funds managed by Oaktree Capital Management, L.P, a leader among global investment managers specializing in alternative investments, with $163 billion in assets under management as of September 30, 2022.
About Litecad
Based in Hoogeveen, Netherlands, Litecad is a provider of technical specialists to the power, infrastructure and industrial sectors servicing clients such as Tennet, Siemens, Nuon and North H2 with a headcount of c.150 specialists. Through the past few decades, the company has been involved in a variety of projects including in wind, hydrogen development and the realization of green energy hubs for the North of the Netherlands.