Bureau Veritas to acquire UK inspection firm Inspectorate for £450 million

France-based, Bureau Veritas, the world's second-largest inspection and certification company said today that has entered into a deal to acquire commodities testing and inspection firm Inspectorate for £450 million (approximately Rs3,033 / $667 million).

The deal will place Bureau Veritas among the top three global leaders in the potentially €5-billion global commodities testing and inspection market.

Founded in 1828 and based in Neuilly sur Seine, France, Bureau Veritas has grown and diversified from certifying the seaworthiness of ships in the early 19th century to become the world's second largest group in conformity assessment and certification services.

With 2009 revenues of €2.6 billion, the group services its approximately 370,000 clients worldwide through over 39,000 employees, 900 offices and 180 laboratories located in 140 countries.

Bureau Veritas helps its clients to improve their performances by offering services and innovative solutions to ensure that their assets, products, infrastructure and management systems meet all quality, health and safety, environmental and social responsibility standards and regulations.

Inspectorate, a subsidiary of the UK-based firm Inspicio and majority owned by private equity firm 3i and funds managed by 3i, is a world leader in inspection and laboratory analysis of traded commodities with over 130 offices and 5,000 employees.