Intertek acquires US power sector firm ATI
Intertek Group, the quality control services provider, has acquired ATI, a provider of asset integrity support services in the US power sector.
Intertek Group, the quality control services provider, has acquired ATI, a provider of asset integrity support services in the US power sector.
The company was bought for a total of $16m (£10m) from its management shareholders.
ATI's asset management software is used to record and collate data which is then used to support the maintenance of power generation infrastructure.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Wolfhart Hauser, Chief Executive Officer of Intertek, said: "ATI's solutions are highly complementary to our wider Industry Services portfolio and will deepen our support to customers in maintaining the quality of their assets.
"Power and energy companies are investing more in solutions such as those of ATI which help to regulate and manage their maintenance programmes as they continue to increase investment in existing and new infrastructure to meet growth in energy demand."
NR
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Will a Santa Rally bring festive cheer to investor portfolios this year?
Investors will be hoping for a seasonal stock market boost in December
By Marc Shoffman Published
-
ChatGPT turns two: how has it impacted markets?
Two years on from ChatGPT’s explosive launch into the public sphere, we assess the impact that it has had on stock markets and the world of technology
By Dan McEvoy Published