French inspection company Bureau Veritas has agreed to buy British commodity testing and inspection company Inspectorate from UK-based Inspicio, majority owned by private equity firm 3i, in a deal valued at £450M.
The deal is expected to be completed during Q3 2010, upon clearance from the relevant competition authorities. Bureau Veritas said that the transaction positions it among the top three global leaders in commodities testing and inspection, in a global market worth more than €5B.
Inspectorate ranks among the global leaders in commodities testing and inspection and covers a wide range of inspection and laboratory testing services for oil and petrochemical products, metals and minerals.
Frank Piedelièvre, chairman and CEO of Bureau Veritas, said that the deal was a unique opportunity for Bureau Veritas.
"Bureau Veritas now attains a critical size in the very promising commodities testing and inspection market, in which the Group will now become a key player.
"By integrating a company of Inspectorate's quality and reputation, we are extending our business portfolio and bolstering our international network in the US and most emerging economies."
Inspectorate will help Bureau Veritas boost its position in Britain and the United States, as well as in high-growth regions such as Russia, China, India, Latin America and the Middle East, which together contribute about 45% of sales.
To find out more about Bulk Materials International:
