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Bodycote acquires six businesses for £25m
03/11/2006
Bodycote International, the British heat treatment and coatings company, has acquired six businesses in the UK, Ireland, Turkey and Brazil for a total consideration of £25m, as part of its strategy to expand into emerging economies.
The UK businesses consist of Prova, a pharmaceutical testing laboratory in Camberley, Foodscan, a food analysis and microbiological testing laboratory in Glasgow, and County Durham-based Norpath, a food and consumer products testing business.
The remaining businesses are Brasimet, a Brazillian metallurgical testing company, County Cork-based Consult-us, and a 60 per cent equity stake in Turkish heat treatment group ISTAS.
The six acquisitions have combined net assets of £10.9m and forecast sales of £31.8m.
Bodycote also announced the sale of Espoo, its coating plant in Finland, which it had purchased in May 2001.
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