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.

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

Get 6 issues 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

Sign up

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