Bureau Veritas Acquires Sievert Group
Bureau Veritas has entered into a deal to acquire Sievert Group, providing non-destructive testing and related industrial inspection services in India and the Middle East.
The financial details of the transaction remain unknown.
J. Sagar Associates acted as domestic legal advisor to Bureau Veritas while DLA Piper acted as International legal counsel. AZB & Partners advised Sievert Group.
PricewaterhouseCoopers acted as a sole financial advisor to Sievert India.
Sievert, established in 1986 and based in Mumbai, is specialized in conventional and advanced non-destructive testing services. Its facilities comprise of X- and Gamma ray radiographic testing, to ultrasonic testing, corrosion mapping and remote video inspection.
These services are primarily provided during the construction of onshore and offshore pipelines used for oil, gas or water distribution.
With concentrated presence in India, South East Asia and the Middle East, the company has 1,400 employees and reported revenues of $33 Mn in 2012.
Euronext Paris listed Bureau Veritas is a global leader in testing, inspection and certification (TIC) and manages over 50,000 employees globally.
The acquisition would increase Bureau Veritas’ technical capabilities in advanced non-destructive testing and reinforce its footprint in India and the Middle East.
In the space, Oman India Investment Fund invested around R55 Cr in Indus Teqsite for 19.64% stake last year in July. Indus Teqsite is engaged in manufacturing of software-integrated hardware in the field of high end automatic testing of defence equipments.
Ineda Systems was planning to raise funds for expansion through PE route.
| 1 Readers' Comments | Post a Comment >> |
KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 2013-03-19 | Sievert Group - Bureau Veritas SA | M&A |
Bureau Veritas SA |
- |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 05/04/2013 | M&A | Adways Incorporated | VC Internet Media Private Limited | - | Completed |
| 04/04/2013 | M&A | McCann Worldgroup India | End To End Marketing Solutions Private Limited | - | Completed |
| 19/03/2013 | M&A | Bureau Veritas SA | Sievert India Private Limited | - | Completed |
| 04/02/2013 | M&A | Kabuza Marketing Private Limited | 0.00 | Completed |
Company | ||||
| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Sievert India Private Limited | ||||
| 1 | March 28, 2013 04:03 AM |
This is one
technology that
I would love to
be able to use
for myself.
It’s
definitely a
cut above the
rest and I
can’t wait
until my
provider has
it. Your
insight was
what I needed.
Thanks - Posted by international financial advisors |
| 2 | March 28, 2013 04:02 AM |
This is one
technology that
I would love to
be able to use
for myself.
It’s
definitely a
cut above the
rest and I
can’t wait
until my
provider has
it. Your
insight was
what I needed.
Thanks - Posted by international financial advisors |
| 3 | March 28, 2013 04:02 AM |
This is one
technology that
I would love to
be able to use
for myself.
It’s
definitely a
cut above the
rest and I
can’t wait
until my
provider has
it. Your
insight was
what I needed.
Thanks - Posted by international financial advisors |
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