Intertek to Acquire Moody for Â£450m
Moody is a worldwide technical services organization dedicated to reducing clients' risks by providing technical inspection services, technical staffing services, consulting and training, and global management system certification.
Moody will extend Intertek's existing capabilities in technical inspection and asset integrity management across all geographic regions including Eastern Europe and with new footprints in South America and Africa, resulting in full coverage across EMEA, Middle East, Asia Pacific and the Americas.
Intertek provides expert services across the energy sector including compliance consulting, product and component certification, emissions, and a wide range of production, product and supply chain related testing, inspection and analytical services.
Moody and Intertek will be able to offer a complementary mixture of services to clients across the entire energy chain.
Intertek expects the acquisition to be completed by the middle of the year, after competition clearances. Unified services will commence after completion. Moody will join the Industry & Assurance division of Intertek.
Wolfhart Hauser, CEO of Intertek Group, said: â€œMoody is a leader in its chosen markets and will strengthen Intertek's industry services and systems certification capabilities globally. We will be able to offer Intertek and Moody clients a range of highly complementary quality and safety services across the entire energy chain covering energy assets, processes and products.â€
Brendan Connolly, CEO of Moody, said: "Moody and Intertek are a perfect fit and will enable us to provide intuitive service bundling together that is tailored to our clients' different operations and needs.
â€œWe can offer our world class technical inspection, consultancy and training services to Intertek's clients and we will benefit from Intertek's expertise in leading quality and safety across all industries. This is a compelling combination for our clients and for our people - we are very excited about our joint future.â€
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