The Group enters the US aerospace market,a strategic and high growth industry in the region, through an agreement to purchase three testing companies, .
Barcelona, 4th November 2014.- Applus+, the global Testing, Inspection and Certification Company, has signed sale and purchase agreements with Integrity Aerospace Group (IAG) and minority shareholders in North America. These reinforce the company’s presence in a strategic and high growth market in the region.
Entering into the North American aerospace testing market
Applus+ has agreed to purchase three companies from IAG and other third party shareholders -X-Ray Industries, N-Ray Services and Arcadia Aerospace- which are the premier suppliers of Non Destructive Testing to the aerospace market and gas turbine industry. The companies with 74 years of history have over 200 employees and operate primarily from 7 locations across the USA and Canada and a further 10 co-locations embedded within customer facilities.
X-Ray Industries and N-Ray Services will form part of the Applus+ RTD division and will reinforce the division´s strong presence in the North American market. Arcadia Aerospace will be part of Applus+ Laboratories and will be this division´s first entry into the US market.
The purchase agreement with Integrity Aerospace Group is subject to approval by the US authorities, in particular the Committee on Foreign Investments (CFIUS). [NOTE: CFIUS approval was received in February 2015, concluding the purchase process].
"We continue to make progress in the consolidation of our position in strategic markets. These acquisitions strengthen our business and are a further step in developing our presence in key sectors with high growth potential and margins. Their experience and credentials, together with our own, will open up new possibilities for expansion into surrounding countries and will attract new customers,” explained Fernando Basabe, CEO of Applus+.
The combined annual revenue of the three US’s companies under the purchase agreement is over €22 million.
Applus+, a global Testing, Inspection and Certification company
Applus+ is one of the world’s leading companies in Testing, Inspection and Certification. It provides solutions for customers in all types of industries to ensure that their assets and products meet quality, health & safety, and environmental standards and regulations.
In 2013, Applus+ recorded revenue of € 1,581 million, employs more than 19,000 people and operates in more than 60 countries in five continents.
Kreab Gavin Anderson, Madrid
Kreab Gavin Anderson, London