Last checked at 26 Oct 2015 07:00
Company Announcement
26 October 2015, 7.00am London, UK
Intertek acquires MT in the US
Intertek expands its Building & Construction capabilities in the US with New York acquisition
Intertek Group plc ("Intertek"), a leading quality solutions provider to industries worldwide announces that it has acquired MT Group LLC and Materials Testing Lab, Inc. (together "MT"). MT is a leading provider of materials testing and inspection services for the building industry in the New York metro area and gives Intertek closer access to one of North America's high growth construction markets.
MT's services to residential and commercial building projects include quality inspection of materials, geotechnical assessment of building vibration to reduce damage during construction, and window and glazing fenestration testing. The company also supports large transport related governmental infrastructure projects, principally roads and bridges.
The acquisition of MT supports Intertek's growth strategy in the Building & Construction sector in North America and complements its planned acquisition of PSI, a leading provider of testing and assurance services to commercial and civil markets, as well as Architectural Testing Inc. (ATI) acquired in 2013. Together, they will strengthen Intertek's position as a full service provider across the project and building lifecycle with a wide range of testing and assurance services from lab-based product manufacturing support through to in-field inspection and testing during construction.
MT employs over 100 people from its main site in Farmingdale, Long Island and will form part of Intertek's Building & Construction business line within the Commercial & Electrical division. The business generated revenues of around USD 9 million in 2014.
Commenting on the acquisition, André Lacroix, Chief Executive Officer of Intertek, said: "The addition of MT, along with our planned acquisition of PSI, will position Intertek as a leading full service provider in the rapidly growing US construction market. This acquisition brings complementary services to Intertek's portfolio of Building & Construction services during the construction phase and deepens our US footprint. MT services the New York metropolitan area and Northeast region where we believe there are exciting growth opportunities. MT has a strong track record of service delivery, strong management and an excellent team and we are delighted to welcome all MT employees to Intertek."
-ends-
Contacts
Sarah Ogilvie, Intertek
Telephone: +44 (0) 20 7396 3400
Sarah.ogilvie@intertek.com
Jonathon Brill, FTI Consulting
Telephone: +44 (0) 20 3727 1068
Jonathon.brill@FTIConsulting.com
www.intertek.com
About Intertek
Intertek is a leading quality solutions provider to industries worldwide. From auditing and inspection, to testing, training, advisory, quality assurance and certification, Intertek adds value to customers' products, processes and assets. With a network of more than 1,000 laboratories and offices and over 38,000 people in more than 100 countries, Intertek supports companies' success in a global marketplace. Intertek helps its customers to meet end users' expectations for safety, sustainability, performance, integrity and desirability in virtually any market worldwide. Visit www.intertek.com
Intertek Group plc (LSE: ITRK) is listed on the London Stock Exchange and is a constituent of the FTSE 100 index.