LONDON (dpa-AFX) - Intertek Group plc (ITRK.L), a Total Quality Assurance provider to industries, Tuesday said it has agreed to acquire TESIS - Tecnologia e Qualidade de Sistemas em Engenharia Ltda, a provider of building products testing and assurance services, based in São Paulo, Brazil.
Financial terms of the deal were not disclosed.
Intertek expects this deal to expand its Building & Construction Total Quality Assurance business into Brazil's construction industry, which is valued at $120 billion and is expected to grow at 4.8% per annum to 2033.
In 2024, TESIS had generated revenue of 3.7 million pounds.
'Brazil's construction industry is the largest in South America and as the twin drivers of population growth and urbanisation drive greater demand for housing projects, the need for our industry-leading Building & Construction ATIC solutions will only increase. This acquisition expands our ATIC offering in Brazil, is highly complementary to our building products testing and assurance business in North America and opens up an attractive high-margin sector that is benefiting from powerful structural growth drivers,' said André Lacroix, Chief Executive Officer of Intertek.
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