Inspecta has acquired the Swedish inspection business of Det Norske Veritas [2005-11-07]

The leading Finnish provider of technical inspection and testing services is expanding its business to Sweden

Inspecta has acquired the Swedish inspection business of Det Norske Veritas

Inspecta Oy has acquired all the shares of DNV Inspection AB and DNV Nuclear Technology AB, Swedish subsidiaries of Det Norske Veritas, as well as the enterprise of Technology Services. The companies acquired currently employ a staff of 520 persons, and the annual turnover of their operations exceeds 50 M€. As a result of this acquisition the staff of the Inspecta group will grow from about five hundred to over one thousand, and its business volumes will be exceeding 90 million.

Det Norske Veritas, DNV is the world’s leading companies in corporate risk management related services, having a strong foothold in vessel classification and certification. Currently the group has about 6000 employees.

The arrangement is well in line with the Inspecta’s growth strategy, and will result in the emergence of a strong CA supplier in the Baltic region, who is able to offer comprehensive services to multinational customers. The emerging business is an uncontested market leader in its business segment in Finland, Sweden and Latvia. From now on Inspecta will have considerably better possibilities to make an impact in the future arrangements on the European inspection business market.

Inspecta has been co-operating with the Swedish DNV for many years. Lately, along with the harmonisation of the markets the need for co-operation has been increasing considerably.

“Our objective is to create a strong Nordic group specialising in technical inspection, testing and certification business, which could operate locally within the entire Baltic Sea market,” says the Inspecta Oy’s CEO Simo Hassi.

Over the last years Inspecta has been powerfully expanding its operations related to testing and inspection of realty equipment. The enterprise being acquired now will complement also this range of services, and for the first time Inspecta will set up its own operating units in Sweden as well. Inspecta’s majority shareholder is the Finnish venture company MB Funds whose development input has made the strong growth of Inspecta possible.

The acquisition process will be finalised after the necessary approvals of the relevant competition agencies have been received.

Additional information:

CEO Simo Hassi, Inspecta Oy
GSM: 050 2255
Tel.: 010 521 6200
simo.hassi@inspecta.fi

http://www.inspecta.fi

Inspecta is the largest business in Finland specialising in major technical inspections and testing, which carries out testing and inspection of pressure equipment and other safety-critical units of energy and processing industry, and certification of quality and management systems. The staff of Inspecta exceeds 500 employees, and the sales volume in 2005 is estimated at ca 40 M€.

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