Premier M&A advises specialist non-destructive testing (NDT) business ‘Technical Inspection Services UK’ on its sale to Applus+
Premier, the leading Testing, Inspection & Certification sector (TIC) M&A specialist, is pleased to announce that it has advised Technical Inspection Services UK (TIS), a specialist non-destructive testing (NDT) business, on its sale to Applus+, a leading Testing, Inspection & Certification business listed on the Madrid Stock Exchange. The transaction closed in July 2018.
TIS was founded in 1981, and serves the power generation, aerospace and industrial sectors. The company provides a range of onsite NDT services but is unique in its ability to perform NDT inside nuclear reactor vessels during planned shutdowns. TIS has also invested in a laboratory which is the closest full capability NDT facility to Hinkley Point.
The company’s client base includes nuclear & conventional power generating companies, operators and builders of waste2energy plants, aerospace component manufacturers and general engineering/fabrication companies.
TIS already provided specialist NDT and training services to Applus+ and, with the upcoming testing and inspection work to be completed at Hinkley C, TIS was a natural fit within the Applus+ family. Ramón Fernández Armas, Executive Vice President of the Energy & Industry Division of Applus+ said “the acquisition of TIS fits in our global strategy, reinforcing our positioning in the testing and inspection industry. Also, it allows us to benefit from its local knowledge and know-how, creating new growth opportunities for Applus+ in the United Kingdom.”
Ken Stockham of TIS said, “We have developed the business from a purely local NDT company into a business that works throughout the UK on some of the largest infrastructure assets in the country. Our strategic decision to build a laboratory has been rewarded, increasing sales across all sectors and, with the backing of Applus+, means we are ideally positioned to perform testing and inspection services during the construction of Hinkley C.”
Chris Knox from Premier’s London office commented, “It was a privilege to work with Ken and Glen Stockham who, along with the rest of the team at TIS, have created a highly successful NDT business that generated interest from numerous potential buyers. I am sure that under the ownership of Applus+ the business will continue to flourish and I wish TIS and Applus+ the best of luck in the future.”
Premier led the transaction on behalf of the owners of TIS, guiding the deal to completion.
The sale of TIS marks Premier’s 18th deal in the testing and inspection sector (TIC) (and the 6th in the NDT space) cementing our position as market leading advisers to companies in the sector.