Intertek announces two acquisitions
01 Nov 2010
Metoc
Intertek Group plc (Intertek), the leading international provider of quality and safety services to a wide range of industries, announces that it has acquired Metoc plc (Metoc), a company that provides engineering and environmental consultancy services to the renewable energy infrastructure sector worldwide.
The company was purchased from its management shareholders for a cash consideration of GBP 8 million and employs 80 consultants in the UK across sites in Hampshire, Cardiff and Dundee. It will form part of Intertek’s Industrial Services Division.
Metoc provides consultancy and advisory services to companies at the ‘concept’, construction and operational stage of new wind, wave, oil, gas, solar and hydro-electric projects. It provides expert assessments of the feasibility and impact of infrastructure projects in terms of their design, interconnectivity and environmental impact. This includes advisory work on offshore infrastructure and interconnectors, onshore and offshore environmental and safety impact assessments, subsea, land and waterway modelling, site surveys and related engineering consultancy work.
Increasing development of energy infrastructure and land and subsea power interconnectors is driving demand for Metoc’s services. Governments are also requiring more stringent preliminary environmental and ecosystem impact assessments before new infrastructure projects or cabling is approved. Metoc’s clients include global and local energy sector companies and their contractors on projects in Europe, North and South America, the Middle East and Africa.
Profitech
Intertek has also acquired Profitech an analytical laboratory technology modelling company in the UK with two employees. Profitech was purchased from its owner-shareholders for GBP 0.4 million cash consideration with additional consideration of up to GBP0.6 million payable in 2011 and 2012 dependant on financial performances. Profitech’s analytical modelling techniques complement Intertek’s upstream services within its Analytical Services division, in the area of oil and gas metering, measurement and allocation.
Wolfhart Hauser, Chief Executive Officer of Intertek, commented:
“Metoc brings us an excellent set of new advisory capabilities in various fast-growing renewable energy segments. Its services complement our existing infrastructure analysis and inspection support to oil, gas, wind, solar and nuclear clients. We welcome Metoc and Profitech’s expert teams to Intertek”.
Contacts
Aston Swift / Sarah Ogilvie Intertek
Telephone: +44 (0) 20 7396 3400
aston.swift@intertek.com / sarah.ogilvie@intertek.com
Richard Mountain / Sophie Moate, Financial Dynamics
Telephone: +44 (0) 20 7269 7121
richard.mountain@fd.com / sophie.moate@fd.com
About Intertek
Intertek is a leading provider of quality and safety solutions serving a wide range of industries around the world. From auditing and inspection, to testing, quality assurance and certification, Intertek people are dedicated to adding value to customers' products and processes, supporting their success in the global marketplace. Intertek has the expertise, resources and global reach to support its customers through its network of more than 1,000 laboratories and offices and over 26,000 people in more than 100 countries around the world.
Intertek Group plc (LSE: ITRK) is listed on the London Stock Exchange and is a constituent of the FTSE 100 index.