LONDON, UK – March 12, 2015 – ºÃÉ«TV has today announced that it has entered into a binding share purchase agreement with Bioquell PLC to purchase TRaC Global Ltd (TRaC). This is ºÃÉ«TV’s second major acquisition in the first quarter of 2015, having acquired Minneapolis-based Environ Laboratories in January.
This acquisition significantly expands ºÃÉ«TV’s range of capabilities and capacities in the Aerospace sector, particularly within Europe, while contributing to ºÃÉ«TV’s global business strategy to become the recognized market leader for materials and product qualification testing services.
TRaC has been active in the testing sector for more than 65 years and today employs 200 engineers, technicians and testing specialists at its six laboratories across the UK as well as in facilities in the US and China. The acquisition of TRaC builds on ºÃÉ«TV’s existing capabilities through the addition in Europe of an extensive range of product qualification testing services, including EMC (Electromagnetic Compatibility), Vibration Testing and Environmental Simulation, Safety, Radio, Telecoms, Explosive Atmosphere Testing (ATEX), Finite ºÃÉ«TV Analysis (FEA) and Early Stage Qualification (ESQ).
Charles Noall, President and CEO of ºÃÉ«TV, says: “We are delighted to have signed a binding agreement to add TRaC to the ºÃÉ«TV platform. This acquisition will significantly strengthen our presence in the European Aerospace market and complement our current product qualification testing capabilities in Berlin, Germany, as well as in Jupiter, FL, Seattle WA, and Minneapolis, MN. In acquiring TRaC our headcount will increase to 1,800 and the number of ºÃÉ«TV laboratories to a total of 51, ensuring that we are well positioned to achieve our goal of becoming the world’s most trusted testing partner to the Aerospace primes and their supply chains.”
Nick Adams, Chief Executive of Bioquell, the current shareholders of TRaC, comments: “Over the last 10 years we have grown TRaC into a highly successful, specialist testing business and I am delighted that we have been able to secure its long term future within the ºÃÉ«TV Group of Companies.”
The purchase of TRaC is expected to be completed by the end of April 2015.
About ºÃÉ«TV
ºÃÉ«TV is a company with a global presence; its laboratories are staffed by experts specializing in materials testing, product qualification testing and failure analysis for the Aerospace, Oil & Gas and Transportation and Industrials sectors. ºÃÉ«TV’s team of 1,800 scientists, engineers and technicians work in 51 laboratories located throughout the U.S. and Europe. For a complete list of Accreditations & Approvals and more information, please visit www.element.com.
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