Bureau Veritas buys the Maxxam, leader in the Canadian market of the analytical services



The French group of classification and certification Bureau Veritas (BV) has signed an agreement with the OMERS Private Equity in order to buy the Canadian Maxxam Analytics International Corporation, society leader in the domestic market of the analytical services. The transaction, than second the forecasts will be capacity to term in the course of the first trimester of the next year, will have a value of 650 million dollars Canadian (about 447 million euros).

The managing director of Bureau Veritas, Didier Michaud-Daniel, has emphasized that, thanks to the acquisition, the French group will become "leader in the field of the tests of quality and the services of inspection and certification in Canada, a market - he has remembered - in which we have begun to expand two years ago to us. Moreover - it has added Michaud-Daniel - we will accelerate our expansion in America North, where our customers can make use of the immense range of services completed with the addition of the solutions and the analytical services of the Maxxam. This acquisition is online with the strategic objectives of flat the BV2015, between which those of more consisting a presence in America North and of a diversification in adjacent services with a growth potential fort".

The Maxxam group, that it is founded beyond 40 years ago and it has beyond 2.500 dependent, arranges more than 50 laboratories, warehouses and centers of service in all the Canadian territory in which they are analyzed 2,5 million sample every year. The company work mainly to service of the oil industry, in the fields of the atmosphere and alimentary safety and in that forensic. In the fiscal year finished in March 2013 Maxxam it has recorded Canadian revenues for 245,9 million dollars (about 169 million euros) and for the current exercise, than it will be concluded on March 31, 2014, are previewed Canadian revenues for 269 million dollars (about 187 million euros) and a Canadian EBITDA of 61 million dollars (about 42 million euros).

Bureau Veritas has evidenced that the Canadian market of services of Testing, Inspection and Certification (MANNERISM) has a value of 1,5 billion dollars Canadian and that Maxxam work in segments of the market that altogether total Canadian annual revenues for beyond 600 million dollars and in which is attended an increase of the 5-7% per year. With the acquisition of the Maxxam, and with the acquisitions in Canada of the AcmeLabs and the OTI realized in the past couple of years, now the Bureau Veritas group has 2,800 dependent in Canada and 6,000 altogether in all the America North, region that represents 13% of the volume total of the revenues of the French group regarding 9% before the acquisition of the Canadian company.