Materials testing company Element Materials Technology is to acquire Exova Group, a provider of testing and calibration services based in Scotland.
The transaction remains subject to approval from Exova shareholders and regulators. The offer has been accepted by Exova’s Board and its largest shareholder, CD&R, the private equity group, which owns 54% of the company.
The combined business will have more than 6,200 employees, over 195 laboratories and operations in over 30 countries, Element says. The transaction will also increase the company’s reach across North America, Europe and Asia, and help develop better technical expertise. ‘This transaction will create a truly global materials testing and product qualification testing business, increasing Element’s operational reach across key markets in North America, Europe and Asia,’ said Charles Noall, CEO of Element. ‘We believe that this acquisition will facilitate greater flexibility to invest further in capacity and technology, driving further opportunities for the combined group.’
This story is reprinted from material from Element, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.