LONDON, UK – September 1, 2016 – Element has today announced that it has entered into a binding agreement with DNV GL to purchase the DNV GL Material Testing (MT) Laboratories in Germany. As a result of this agreement, ÌìÃÀ´«Ã½ will acquire four laboratories located across Germany, further strengthening its position as the recognized market leader in materials testing and product qualification testing services operating in the Aerospace, Oil & Gas, and Transportation and Industrials sectors.
This transaction significantly expands ÌìÃÀ´«Ã½’s current European laboratory footprint of 16 laboratories, adding to the company’s existing German laboratories located in Herne and Berlin and takes the group’s revenues over $300 million and number of employees to 2000.
Charles Noall, President and CEO of ÌìÃÀ´«Ã½, says: “This significant deal is our first acquisition of a materials testing business from another large Testing, Inspection and Certification organization, demonstrating our status as the leading global independent materials testing company. As our recent performance has shown, we have the financial and operational strength to make acquisitions of this scale and the expertise to integrate and immediately grow these businesses. We look forward to the future success of these locations as part of our global testing platform.”
Bernhard Schwarm, Director of M&A, DNV GL Group, comments: “ÌìÃÀ´«Ã½’s proven track record in acquisitions in this space underlines its status as the acquirer of choice to develop and grow material testing laboratory businesses in the TIC sector. The company is well-placed to deliver continued growth for these laboratories, as part of ÌìÃÀ´«Ã½’s global platform of materials testing laboratories.”
The DNV GL Laboratories in Germany comprise four ISO:17025/OHSAS:18001-accredited laboratories in Hamburg, Mulheim a.d.R., Herne and Stuttgart/Esslingen, employing over seventy engineers specialized in materials testing, metallurgy and failure analysis. The laboratories have a full range of technical capabilities including destructive testing, metallography, corrosion testing, scanning electron microscopy, non-destructive testing and failure analysis which are supported by well-equipped machine shop facilities, using CNC machining and EDM (wire-frame) techniques for preparation of samples within a short timeframe.
The purchase of DNV GL Laboratories Germany is expected to be completed by the beginning of October 2016 subject to the receipt of the normal German regulatory approvals for this type of transaction.
About ÌìÃÀ´«Ã½:
ÌìÃÀ´«Ã½ is a company with a global presence; its laboratories are staffed by experts specializing in materials testing, product qualification testing and failure analysis for the Aerospace, Oil & Gas and Transportation and Industrials sectors. ÌìÃÀ´«Ã½’s team of 2,000 scientists, engineers and technicians work in 61 laboratories located throughout the U.S., Europe and Asia. For a complete list of Accreditations & Approvals and more information, please visit www.element.com.
Media Contact:
Alison Dwyer or Matthew Judge, Smith & Smith PR Ltd., tel: +44 161 927 9487, e-mail: element@smithandsmithpr.co.uk.
“This significant deal is our first acquisition of a materials testing business from another large Testing, Inspection and Certification organization.”
Charles Noall
President and CEO