REG - Intertek Group Plc - Acquisition

IntertekAnnouncement

06/05/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250506:nRSF3455Ha&default-theme=true

RNS Number : 3455H  Intertek Group PLC  06 May 2025

INTERTEK EXPANDS INTO BRAZIL'S ATTRACTIVE BUILDING & CONSTRUCTION INDUSTRY

WITH ACQUISITION OF LEADING BUILDING PRODUCTS TESTING COMPANY

6 May 2025

·    New legislation and government-backed programmes are powering
accelerating demand for building products testing services in Brazil

 

·    The acquisition of TESIS expands Intertek's ATIC offering in the
Building & Construction industry, growing its geographic footprint in
Latin America

 

·    TESIS' leading building products testing business enhances Intertek's
North American offering and represents a compelling opportunity to enter a
high-growth, high-margin sector

 

More information is available here:
https://www.intertek.com/investors/tesis-video/

 

Intertek Group plc ("Intertek" and "Group"), a Total Quality Assurance
provider to a range of industries worldwide, is pleased to announce that it
has agreed to acquire TESIS - Tecnologia e Qualidade de Sistemas em Engenharia
Ltda ("TESIS"), a leading provider of building products testing and assurance
services, based in São Paulo, Brazil.

Heightened societal awareness around the quality and sustainability of
building products, coupled with population growth and urbanisation, are
placing increasingly greater demands on housing in Brazil. In addition,
legislation and government-backed programmes aimed at expanding access to
affordable housing and basic sanitation will require significant investment in
this decade to improve standards and strengthen the regulatory and quality
environment, all of which are driving greater demand for TESIS' services.

The acquisition represents an attractive opportunity for Intertek to expand
its leading Building & Construction Total Quality Assurance business into
Brazil's construction industry, which is valued at $120bn and is forecast to
grow at 4.8% per annum to 2033.(1) Complementing the Group's comprehensive
range of product-related testing and certification capabilities in North
America, acquiring TESIS will accelerate demand for the Group's ATIC
solutions, powered by Intertek's Science-based Customer Excellence Advantage.

Founded in 1988, TESIS operates from its lab in São Paulo, where it provides
high-quality testing and assurance services across a broad range of building
products, including faucets and valves, adhesive mortars, decorative paints,
and basic sanitation. TESIS today has more than 80 employees and generated
revenues of £3.7m in 2024 - qualities that make it a compelling
margin-accretive addition to the Intertek portfolio.

André Lacroix, Chief Executive Officer of Intertek, said: "Brazil's
construction industry is the largest in South America and as the twin drivers
of population growth and urbanisation drive greater demand for housing
projects, the need for our industry-leading Building & Construction ATIC
solutions will only increase.

 

This acquisition expands our ATIC offering in Brazil, is highly complementary
to our building products testing and assurance business in North America and
opens up an attractive high-margin sector that is benefiting from powerful
structural growth drivers. We welcome the team from TESIS and look forward to
working together to seize the opportunities in Brazil's construction industry
in line with our core purpose of bringing quality, safety and sustainability
to life."

 

 1  Brazil Construction Industry Report 2024: Output to Grow by 4.8% to 2028,
Driven by Government Initiatives for Infrastructure Development and Focus on
Renewable Energy - ResearchAndMarkets.com
(https://www.businesswire.com/news/home/20241119673186/en/Brazil-Construction-Industry-Report-2024-Output-to-Grow-by-4.8-to-2028-Driven-by-Government-Initiatives-for-Infrastructure-Development-and-Focus-on-Renewable-Energy---ResearchAndMarkets.com)

 

~ENDS~

 

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, DGA Group

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

 

 

 

 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 Total Quality Assurance expertise, delivered consistently, with
 precision, pace and passion, enabling our customers to power ahead safely.

 intertek.com

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  ACQEADSSEFPSEFA