Intertek Group plc (Intertek) has agreed to acquire Architectural Testing Inc. (ATI). Intertek will purchase the company from private equity firm Wafra Partners and the management shareholders for a total cash consideration of $95 million USD. Closing of the acquisition is expected to occur in the fourth quarter of 2013, according to the announcement.
Head-quartered in York, Pa., ATI was set up in 1975 to verify the performance of residential window systems, but has since expanded into related residential and commercial markets including exterior wall systems and interior finish systems. The company employs 293 highly specialized technicians and engineers across 28 locations in the U.S.
The announcement notes that ATI’s investment in proprietary equipment and testing methodologies, its strong reputation with the regulatory bodies and manufacturers, combined with the improvement in the construction market in the U.S., provides Intertek with a strong platform for continued growth both domestically and internationally. Where Intertek has already been successful in using its global network to expand its building products offering to new fast-growth overseas markets, it will now develop ATI’s specialized offering in the same way to manufacturers internationally, according to the Intertek announcement. Intertek adds it will also be able to provide its product testing expertise and comprehensive suite of certification marks to ATI’s established customer base.
“The industry, our customers and our stakeholders will all benefit from the combination of ATI and Intertek,” says Wolfhart Hauser, CEO, Intertek. “This is a long-term strategic opportunity which allows us to better serve our customers while enabling us to further expand our building products locations outside the U.S. and penetrate high growth areas around the globe.”
