Bureau Veritas announced Tuesday the acquisition of Inspectorate, specialist inspection and testing of raw materials and subsidiary of British Inspicio. The transaction amounted to 450 million pounds (nearly 540 million euros) and should be completed in the third quarter of 2010.
Inspectorate, currently held by the investment company 3i, is also present on the testing of petroleum products and petrochemicals (59% of its turnover), metals, minerals and agricultural products.The company recorded 2009 sales of 246 million pounds (280 million euros).
In a statement, Bureau Veritas claims that the acquisition allows it to position itself as "one of the world's leading inspection and testing of raw materials," a buoyant market, "according to Chairman Frank Piedelièvre group, whose potential amounts to 5 billion euros, according to the group saving account payday loan.
Inspectorate therefore give "a new dimension to the group that doubles the size of its laboratory network (330 sites) and now offers a range of services the industry's broadest assessment of compliance."
Bureau Veritas says that the transaction will be financed through existing credit lines and newly negotiated. The group expects a turnover of around 3 billion euros in 2010.It amounted in 2009 to 2,648,000,000 euros.