Bureau Veritas Announces Divestiture of its US Emissions Monitoring Business to Alliance Holdings, LLC
Transaction Advances Bureau Veritas' Objectives to Accelerate Growth in North America by Focusing on Core Business.
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 Holdings, LLC (Alliance), one of the largest air emissions testing companies in the US. The Emissions Monitoring business is served by approximately 130 employees. 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 Alliance success in its future endeavors. We believe the transaction represents a win-win for both companies as we will continue to collaborate with Alliance to deliver creative solutions to our core clients in the Energy sector."