WENDEL Wendel celebrates the acquisition of MatthewsDaniel Ltd by Bureau Veritas, enabling it to enter the loss adjusting business and strengthen its position in risk assessment.
Created in Houston, Texas, in 1962, MatthewsDaniel is headquartered in London and has operations in Europe, the Middle East, Asia and the Americas. This global leader in loss adjusting and risk assessment services for the offshore industry employs more than 150 people and reported revenues of approximately EUR 34M in 2013.
MatthewsDaniel primarily provides services for the insurance market. Their loss adjusting activities include incident investigations, root cause analysis, damage and reinstatement assessment and cost estimation. Their risk assessment portfolio focuses especially on Marine Warranty Surveying activities for both offshore projects and rigs.
MatthewsDaniel has a very strong position in the offshore oil and gas industry. The services they offer for the upstream energy market are driven by an increasing number of installations in operation and particularly drilling units.
Bureau Veritas' acquisition policy is key to its value creation. Bureau Veritas features on Forbes' list of the world's 100 most innovative companies, which aims to identify today's most innovative, growth-driven firms expected to remain so in the future.
Since the beginning of the year, Bureau Veritas has made eight acquisitions, primarily in North and South America. These acquisitions have enabled the group to increase its exposure to the oil & gas, offshore, automotive, construction and agrifoods sectors. In the last five years, Bureau Veritas has made almost 50 acquisitions, including Inspectorate in the UK and Maxxam in Canada.
This new transaction will contribute to the long-term value creation of Bureau Veritas, in which Wendel holds a 51% stake.
| 2014 Calendar | |
| Publication of Q3 2014 net sales (pre-market release) | Friday, November 7, 2014 |
| Investor day / publication of NAV (pre-market release) | Thursday, December 4, 2014 |
About Wendel
Wendel is one of Europe's leading listed investment firms. The Group invests internationally, in companies that are leaders in their field, such as Bureau Veritas, Saint-Gobain, Materis, Stahl and IHS in Africa. Wendel plays an active role as industry shareholder in these companies. It implements long-term development strategies, which involve boosting growth and margins of companies so as to enhance their leading market positions. Through Oranje-Nassau Développement, which brings together opportunities for investment in growth, diversification and innovation, Wendel is also a shareholder of Van Gansewinkel Groep in the Netherlands, exceet in Germany, Mecatherm and Parcours in France, Nippon Oil Pump in Japan and Saham Group in Africa.
Wendel is listed on Eurolist by Euronext Paris.
Standard & Poor's ratings: Long-term: BBB-, stable outlook - Short-term: A3 since July 7, 2014.
Wendel is the Founding Sponsor of Centre Pompidou-Metz. In recognition of its long-term patronage of the arts, Wendel received the distinction of "Grand Mécène de la Culture" on March 23, 2012.
Press contacts
Christine Anglade-Pirzadeh: +33 (0)1 42 85 63 24
c.angladepirzadeh@wendelgroup.com
Analyst and investor contacts
Olivier Allot: +33 (0)1 42 85 63 73
o.allot@wendelgroup.com:
mailto:o.allot@wendelgroup.com
http://hugin.info/143616/R/1853423/647994.pdf
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: WENDEL via Globenewswire
