Divestiture of U.S. Emissions Monitoring Business
Transaction Advances Bureau Veritas’ Objectives to Accelerate growth in North America by Focusing on Core Business
NEW YORK, N.Y., and PARIS, Fra. (September 2, 2020) –– Bureau Veritas, a world-leader in testing, inspection, and certification (TIC) services, today announced it has divested its Emissions Monitoring business unit based in the US that provides fugitive emissions detection and measurement services, to Alliance Source Testing, LLC (AST), one of the largest air emissions testing companies in the US. The Emissions Monitoring business is served by approximately 130 employees and generated approximately $12 million in revenues in 2019. The transaction closed on September 1, 2020.
This transaction advances Bureau Veritas’ objectives to focus on its core quality assurance offering for oil and gas capital projects and assets integrity businesses at scale in North America and to reinvest in accelerated expansion of its Energy business including renewables. Following the closing, Bureau Veritas will ensure a smooth transition for Emissions Monitoring customers and teams across the US.
"We continue to focus on growing our core business and strategic initiatives to better meet the evolving needs of our clients in North America," said Donna Garbutt, Senior Vice President and leader of O&G North America, Bureau Veritas. "We thank the Emissions Monitoring team for their service to Bureau Veritas and wish AST success in its future endeavors. We believe the transaction represents a win-win for both companies as we will continue to collaborate with AST to deliver creative solutions to our core clients in the Energy sector.”
About Bureau Veritas
Bureau Veritas is a world-leading provider in testing, inspection and certification. Created in 1828, the Group has more than 75,000 employees located in more than 1,500 offices and laboratories around the globe. Bureau Veritas helps its clients to improve their performance by offering services and innovative solutions in order to ensure that their assets, products, infrastructure and processes meet standards and regulations in terms of quality, health and safety, environmental protection and social responsibility.
Bureau Veritas is listed on Euronext Paris and belongs to the Next 20 index.
Compartment A, ISIN code FR 0006174348, stock symbol: BVI.
For more information, visit www.bvna.com, and follow us on Twitter and LinkedIn.
About Alliance Source Testing, LLC
Headquartered in Decatur, AL, Alliance is the leading provider of source emissions testing solutions to customers throughout the United States. With expertise in a variety of test methods, Alliance is uniquely qualified to provide customers with the highest quality and most cost-effective source testing solutions available.
For more information, visit www.stacktest.com.