M&A Activity • Jun 6, 2012
M&A Activity
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Neuilly-sur-Seine, France, June 6, 2012 – Bureau Veritas is pleased to announce it has completed two acquisitions in Germany: UniCar Group, a company specialized in automotive inspection services and European Compliance Laboratory (ECL), an electrical and electronic product testing laboratory. Since the beginning of the year, the Group has therefore acquired three new companies in Germany, including Pockrandt, totaling €14 million in annual revenue.
Didier Michaud-Daniel, Bureau Veritas' Chief Executive Officer, stated:
"Germany is a key country for Bureau Veritas where it is already active in the industry, maritime and consumer goods sectors. The Group intends to expand significantly in the power, automotive and electronics markets, given the weight of these industries in Germany. With these new acquisitions, we can now offer a larger service portfolio to German customers and we have increased our capabilities in attractive segments."
UniCar was founded in 1979 and has its operational headquarters in Bremen. It provides car fleet quality control services throughout the supply chain. The company inspects new vehicles during transportation between manufacturing plants, storage sites and port terminals. These services are aimed at manufacturers, logistics companies, car rental companies and insurance companies. They are designed to verify the quality of vehicles and reduce the risk of damage.
UniCar has more than 150 employees and operates in over 60 ports worldwide. In 2011, it generated revenue of nearly €8 million.
Expansion in vehicle inspection services is part of the Group's development strategy. With this acquisition, Bureau Veritas has strengthened both its positions in this field of activity and those in Germany, where the automotive industry is the third-largest worldwide and accounts for nearly half of the country's exports.
Founded in 1987, European Compliance Laboratory (ECL) was previously a branch of the German personnel and process service provider TEMPTON Group. Based in Nuremberg, ECL is specialized in safety, reliability and electromagnetic compatibility testing of electrical and electronic products and offers calibration services. Its services are primarily intended for manufacturers of industrial and consumer electrical products, telecommunications equipment and medical devices, as well as for automotive manufacturers and suppliers.
ECL has 15 highly qualified employees and state-of-the-art equipment, especially anechoic chambers used for electromagnetic tests. In 2011, revenue totaled €2 million.
Germany is the largest European market for electrical and electronic products. This acquisition enables the Group to increase its footprint in Germany and to reinforce its technical capabilities in electronics for the automotive and telecom sectors.
Bureau Veritas is a world leader in conformity assessment and certification services. Created in 1828, the Group has more than 54,000 employees in 940 offices and 340 laboratories located in 140 countries. Bureau Veritas helps its clients to improve their performances by offering services and innovative solutions in order to ensure that their assets, 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 and belongs to the Next 20 (Compartment A, code ISIN FR 0006174348, stock symbol: BVI). www.bureauveritas.com
Analysts/investors: Claire Plais: +33 (0)1 55 24 76 09 [email protected] Press:
Véronique Gielec: +33 (0)1 55 24 76 01 [email protected]
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