M&A Activity • May 25, 2012
M&A Activity
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Neuilly-sur-Seine, France, May 25, 2012 – Bureau Veritas is pleased to announce it has acquired all the shares of Tecnicontrol, a Colombian company providing technical inspections, quality assurance & quality control, non-destructive testing, asset integrity management and commissioning services to industrial companies (oil and gas, process and mining industries).
Founded in 1973 and headquartered in Bogota, Tecnicontrol is a major player in the Colombian market, employing more than 1,300 highly qualified engineers and technicians. In 2011, Tecnicontrol generated revenue of approximately €60 million (COP141.9 billion). The scope of the acquisition also includes Tecnicontrol's international operations in Peru and Mexico.
This first acquisition in Colombia enables Bureau Veritas to expand in North Latin America and to consolidate its leadership position in the region's fast growing industry markets.
Didier Michaud-Daniel, Bureau Veritas' Chief Executive Officer, stated:
"The acquisition of Tecnicontrol is a great opportunity to further strengthen our market leading position in Latin America. Colombia's industry sectors offer strong growth potential and Tecnicontrol is a platform that provides us the right size to address this promising market. The acquisition fits with our 2015 strategic plan, aimed especially at increasing the density of Bureau Veritas' network and offering a comprehensive portfolio of services."
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
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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