Intertek Group Share News (ITRK)

(Sharecast News) - Intertek on Tuesday said it had snapped up global health, safety, quality and security risk management business Check Safety First (CSF) for an unspecified sum.


The FTSE 100 inspection, product testing and certification company said the acquisition represents its first move into the lucrative travel and tourism sector, as CSF provides assurance solutions to hotels and tour operators around the world.

CSF currently has 145 auditors across 24 countries and is expected to deliver revenue of approximately £10m in 2019.

Intertek expressed confidence that its own global network and broad customer base would allow its new business to expand into new geographies and adjacent sectors.

Chief executive André Lacroix said the market for end-to-end quality assurance services within the global travel and tourism industry was likely to grow rapidly as leading hotel groups and travel operators fight to stop health, hygiene, safety and security issues from impacting their reputations and customers.

"This acquisition establishes a strong presence for Intertek in the global hospitality industry, complementing our existing end-to-end ATIC services in adjacent sectors. We welcome CSF to Intertek and look forward to working together to deliver total peace of mind to companies in this fast-growing industry," said Lacroix.

At 0930 GMT, the shares were up 1.3% at 5,766p.