Intertek Group buys International Inspection Services from Lamprell

Product testing company Intertek Group has bought International Inspection Services (INSPEC), a United Arab Emirates-based provider of non-destructive testing (NDT) services to the oil and gas sector. The business was acquired from Lamprell Energy, a subsidiary of Lamprell, for a total cash consideration of $66m.Intertek has also entered into a multi-year preferred supplier agreement with Lamprell for the provision of NDT and associated services.The company said acquisition builds on previous acquisitions of UK-based NDT services in 2012 and US-based GXT in 2013.INSPEC will form part of Intertek's Industry and Assurance division, and align with Intertek's existing Technical Inspection Services and Asset Integrity Management businesses in the region.Chief Executive of Intertek, Wolfhart Hauser, said: "INSPEC has built a strong footprint and established a reputation as one of the most diverse providers of NDT services in the Middle East and will fit well into our developing portfolio of regional NDT hubs. "This acquisition represents an exciting extension to our non-destructive testing inspection business, bringing expertise and regional market access to Intertek, as well as supporting our strategy, started with the 2011 acquisition of Moody International, of building a full scope industry business globally, including core operating and asset integrity skills."RD