Intertek acquires testing services firm NDT
Quality control services group Intertek has acquired NDT Services, a provider of non-destructive testing services to the energy, petrochemical, power and aerospace industries.
Quality control services group Intertek has acquired NDT Services, a provider of non-destructive testing services to the energy, petrochemical, power and aerospace industries.
The group was purchased through the acquisition of its parent company, Materials Testing & Inspection Services, from its management shareholders for £17m in cash.
NDT's services are used by companies to assess the integrity and reliability of a range of industrial components being manufactured or on installations. It employs 130 staff and is headquartered in Derby, UK.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
![https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748-320-80.jpg)
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
Intertek said: "NDT helps clients to identify flaws or defects in aircraft, pipeline, power station, refinery and oil platform components to assess their projected lifespan in order to reduce the risk of failure and disruption to operations."
The firm said that the increasing regulation and standardisation of components, infrastructure and industrial products, as well as increased investment in quality assurance by companies to reduce risks, is driving the demand of NDT's services.
Wolfhart Hauser, Intertek's Chief Financial Officer, commented on Monday morning: ""NDT has a strong reputation and market position and we are pleased to welcome the company to Intertek.
"Building on our Moody acquisition, this acquisition enhances our existing services to our energy, petrochemical, power and aerospace clients and reflects our strategy of continually expanding our capabilities to meet the full quality needs of clients in each industry".
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
-
Regulator moves to protect access to cash amid branch closures and disappearing ATMs
News The Financial Conduct Authority has told banks to start assessing if local communities have adequate cash access from mid-September
By Marc Shoffman Published
-
VAT hike on private school fees could come earlier than previously expected
The government could start charging VAT on private school fees as soon as January 2025, according to the latest reports. What does it mean for parents?
By Katie Williams Published