M&A Activity • Jan 30, 2015
M&A Activity
Open in ViewerOpens in native device viewer
Wendel welcomes the acquisition by Bureau Veritas of CTS, a Chinese laboratory specializing in the testing of toys, electrical goods, electronics and hardlines.
CTS owns test labs accredited by the Chinese government in Ningbo and Guangzhou, two of the world's leading manufacturing and commercial centers. CTS serves a local client base of manufacturers and trading companies. It employs more than 70 people and posted approximately €3 million in revenue in 2014.
Bureau Veritas completes its network of 30 consumer products test laboratories in China, with this acquisition. Bureau Veritas is already strongly represented in China across all its businesses with around 100 locations and 12,500 employees. China is the first country in the group in terms of staff numbers.
This transaction will contribute positively to Bureau Veritas long-term value creation. Wendel is the main shareholder of Bureau Veritas with 51% of its capital.
Publication of 2014 earnings / Publication of NAV (pre-market release) Thursday, March 26, 2015 Shareholders' Meeting / Publication of NAV and trading update (pre-market release) Friday, June 5, 2015 2015 Interim Results / Publication of NAV (pre-market release) Thursday, September 10, 2015 2015 Investor day / Publication of NAV and trading update (pre-market release) Thursday, December 3, 2015
About Wendel
Wendel is one of Europe's leading listed investment firms. The Group invests internationally, in companies that are leaders in their field, such as Bureau Veritas, Saint-Gobain, Materis Paints, Stahl and IHS in Africa. Wendel plays an active role as industry shareholder in these companies. It implements long-term development strategies, which involve boosting growth and margins of companies so as to enhance their leading market positions. Through Oranje-Nassau Développement, which brings together opportunities for investment in growth, diversification and innovation, Wendel is also a shareholder of Van Gansewinkel Groep in the Netherlands, exceet in Germany, Mecatherm and Parcours in France, Nippon Oil Pump in Japan, Saham Group in Africa and CSP Technologies in the United States.
Wendel is listed on Eurolist by Euronext Paris.
Standard & Poor's ratings: Long-term: BBB-, stable outlook – Short-term: A-3 since July 7, 2014.
Wendel is the Founding Sponsor of Centre Pompidou-Metz. In recognition of its long-term patronage of the arts, Wendel received the distinction of "Grand Mécène de la Culture" in 2012.
Christine Anglade-Pirzadeh: +33 (0)1 42 85 63 24 Olivier Allot: +33 (0)1 42 85 63 73 [email protected] [email protected]
Elisa Muntean: +33 (0) 1 42 85 63 67 [email protected]
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.