Bureau Veritas to Acquire Italian Infrastructure Leader Contec AQS
Deal News | Jan 20, 2025 | Globenewswire
Bureau Veritas, a global leader in testing, inspection, and certification services, has announced an agreement to acquire Contec AQS and its subsidiaries, Exenet and PMPI. This move aligns with Bureau Veritas's LEAP | 28 strategy, which aims to strengthen its position in the Buildings and Infrastructure market. The acquisition will enhance the company's footprint in Italy, adding approximately 190 experts and anticipating around €30 million in revenue by 2024. The acquisition is expected to close by March 2025, pending regulatory approvals. Key executives from both companies, including Bureau Veritas CEO Hinda Gharbi and Contec AQS CEO Alberto Palombarini, expressed optimism about the synergies and enhanced capabilities this acquisition would bring. Bureau Veritas, established in 1828 with 83,000 employees, claims a strong commitment to safety, sustainability, and customer excellence across its global operations.
Sectors
- Buildings & Infrastructure
- Testing, Inspection, and Certification
Geography
- Italy – The acquisition of Contec AQS takes place in Italy, expanding Bureau Veritas's presence in the Italian Buildings and Infrastructure market.
- France – Bureau Veritas is a French company, and the strategic expansion aligns with its wider European market goals.
Industry
- Buildings & Infrastructure – The acquisition focuses on expanding Bureau Veritas's services in the Buildings and Infrastructure sector, highlighting its commitment to enhancing its foothold in this market.
- Testing, Inspection, and Certification – Bureau Veritas operates in this industry, providing essential services that ensure safety, quality, and sustainability, which are expanded through this acquisition.
Financials
- €30 million – Anticipated revenue from Contec AQS and its subsidiaries in 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Bureau Veritas | Bidding Company | Company | A global leader in testing, inspection, and certification services aiming to expand its infrastructure capabilities in Italy. |
| Contec AQS | Target Company | Company | An Italian company specializing in buildings and infrastructure services being acquired by Bureau Veritas. |
| Exenet | Subsidiary of Target Company | Company | A subsidiary of Contec AQS, involved in the acquisition by Bureau Veritas. |
| PMPI | Subsidiary of Target Company | Company | Another subsidiary of Contec AQS, part of the acquisition. |