MADRID, Sept 14 (Reuters) - Infrastructure fund I Squared Capital Advisors and TDR Capital said on Thursday they had made an offer for Spanish industrial testing company Applus at a higher price than one made by rival fund Apollo in June.

I Squared and TDR offered to pay 9.75 euros per Applus share versus the 9.50 euros offered by Apollo.

The new bid values Applus at 1.26 billion euros while the Apollo bid valued it at 1.23 billion. The company's current market value is 1.22 billion euros. (Reporting by Andres Gonzalez and Inti Landauro; editing by Jason Neely)