REG - Intertek Group Plc - Acquisition

IntertekAnnouncement

04/03/2024 07:00

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RNS Number : 3669F  Intertek Group PLC  04 March 2024

INTERTEK STRENGTHENS GLOBAL MINERALS OFFERING WITH ACQUISITION OF LEADING
PROVIDER OF METALLURGICAL TESTING SERVICES

 

4 March 2024

 

·    The demand for minerals testing continues to grow, underpinned by
strong fundamentals, with significant growth potential in Minerals that are
important for advanced technology and the energy transition

 

·   The acquisition of Base Met Labs will expand Intertek's industry leading
ATIC offering in the Minerals industry, growing its geographic footprint into
North America

 

·    Base Met Labs' leading metallurgy capabilities is highly
complementary to Intertek's existing strengths in geochemistry, mine site
laboratories and trade inspection, creating attractive synergies across the
Intertek ATIC Minerals project cycle

 

More information is available here:
https://www.intertek.com/investors/basemetlabs-video/
(https://www.intertek.com/investors/basemetlabs-video/)

 

Intertek Group plc ("Intertek" and "Group"), a Total Quality Assurance
provider to a range of industries worldwide, announces that it has agreed to
acquire Base Metallurgical Laboratories Ltd. and Base Met Labs US Ltd. ("Base
Met Labs"), a leading provider of metallurgical testing services for the
Minerals sector based in North America.

 

In order to meet the demands of a growing global population, a variety of
energy sources and minerals will be needed, heightening the requirement for
mission-critical, end-to-end Total Quality Assurance solutions across the
resource development chain.

 

Founded in 2014 and operating from laboratories in Kamloops, British Columbia
and Tucson, Arizona, Base Met Labs' specialist focus on metallurgy
capabilities complements Intertek's existing strengths in geochemistry, mine
site laboratories and trade inspection, creating attractive commercial
synergies within Intertek's high-quality service portfolio. The acquisition
broadens the Group's differentiated ATIC offering in the Minerals industry,
expanding its Americas footprint to access the largest and growing market for
mining activity globally, across Canada, the United States and Central and
South America.

 

With a testing focus on gold, copper and other critical metals, Base Met Labs
benefits from growing demand for minerals testing underpinned by strong
fundamentals, with significant growth potential in battery and energy metals
that will help the world's leading mining companies accelerate into a
sustainable future.

 

The acquisition will capitalise on the recent success of the Group's
innovative Minerals Global Centre of Excellence in Perth Australia, one of the
world's largest and most advanced minerals laboratories, strengthening our
position in the industry.

 

Base Met Labs employs over 40 people and generated revenues of £7.8m in 2023.

 

André Lacroix, Chief Executive Officer of Intertek, said: "There is no doubt
that, with a growing population and the rise in demand for raw materials, the
requirement for leading ATIC solutions at every stage of the minerals and
mining supply chain globally is increasing rapidly.  The acquisition of Base
Met Labs is highly complementary to our ATIC service offering, establishes a
Minerals testing footprint for Intertek on the American continent and creates
attractive growth opportunities with existing and new clients. We welcome the
Base Met Labs team to Intertek and look forward to working together to help
the world's leading mining companies accelerate into a sustainable future,
enabling us to fulfil our mission of making the world a better, safer, more
sustainable place for all."

 

 

For further information please contact:

 

Denis Moreau, Investor Relations

Telephone: +44 (0) 20 7396 3415
investor@intertek.com (mailto:investor@intertek.com)

 

Jonathon Brill/James Styles, Dentons Global Advisors

Telephone: +44 (0)7836 622 683 intertek@dentonsglobaladvisors.com
(mailto:intertek@dentonsglobaladvisors.com)

 

 

 About Intertek

 Intertek is a leading Total Quality Assurance provider to industries
 worldwide.

 Our network of more than 1,000 laboratories and offices in more than 100
 countries, delivers innovative and bespoke Assurance, Testing, Inspection and
 Certification solutions for our customers' operations and supply chains.
 Intertek is a purpose-led company that brings Quality, Safety and
 Sustainability to Life.

 Our Science-based Customer Excellence USP and the 24/7 mission critical
 Quality Assurance solutions we provide, ensure that our clients can operate
 with well-functioning supply chains in each of their operations.

 Our Customer Promise is: Intertek Total Quality Assurance expertise, delivered
 consistently, with precision, pace and passion, enabling our customers to
 power ahead safely.

 intertek.com (http://www.intertek.com)

 

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