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.
-
Energy bills to rise by 1.2% in January 2025
Energy bills are set to rise 1.2% in the New Year when the latest energy price cap comes into play, Ofgem has confirmed
By Dan McEvoy Published
-
Should you invest in Trainline?
Ticket seller Trainline offers a useful service – and good prospects for investors
By Dr Matthew Partridge Published