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Bureau Veritas completed the acquisition of Inspectorate
Neuilly-sur-Seine, France | September 9, 2010
Bureau Veritas completed the acquisition of Inspectorate today, having obtained the approvals of all relevant competition authorities.
An agreement was signed by Bureau Veritas and Inspicio (majority-owned by private equity firm 3i and funds managed by 3i) on June 21, 2010 regarding this acquisition for £450 million.
The acquisition of Inspectorate is a major step forward for Bureau Veritas in its global leadership strategy, making it one of the world leaders in commodities inspection and testing.
Headquartered in Witham in the UK, Inspectorate is present in 60 countries and employs over 7,000 people. Its activities are organized into three main market segments in which the company enjoys leading global positions: oil and petrochemicals, metals and minerals, and agricultural products. In 2009, Inspectorate posted £246 million in revenues. In the first half of 2010, its business held up well, with organic growth of 10.8%.
As Chief Executive Officer of Inspectorate, Neil Hopkins now becomes a member of Bureau Veritas’ Executive Committee.Following this acquisition, Bureau Veritas employs more than 47,000 people in 1,000 offices and 330 laboratories located in 140 countries, and generates combined revenues of over ˆ3 billion.
Bureau Veritas is the world's second largest group in conformity assessment and certification services. Created in 1828, the group has more than 47,000 employees in 1,000 offices and 330 laboratories located in 140 countries. Bureau Veritas helps its clients to improve their performances by offering services and innovative solutions to ensure that their products, infrastructure and processes meet standards and regulations in terms of quality, health and safety, environmental protection and social responsibility. Bureau Veritas is listed on the Euronext Paris (Compartment A, code ISIN FR 0006174348, stock symbol: BVI).