Sale to Applus Technologies Holding S.L., a portfolio company of The Carlyle Group
Baird served as joint financial adviser to Velosi Limited
AboutVelosi Limited (“Velosi” or the “Company”), an AIM listed testing, inspection and certification services company has been acquired by Applus Technologies Holding S.L. (“Applus”), a portfolio company of The Carlyle Group (“Carlyle”). The offer price of 165 pence per share, a 61.4% premium to the closing price on the last trading day prior to the offer announcement, valued the fully diluted share capital of Velosi at £87.8 million.
Velosi is a provider of testing, inspection and certification services to the oil and gas sector, with a broad range of customers including leading multinational and state owned oil and gas companies. Founded in 1982 and headquartered in Malaysia, the Company operates globally through five regional headquarters in the USA, UK, Malaysia, South Africa and the UAE and has 63 offices in 39 countries worldwide. For the financial year ended December 31, 2009, Velosi reported revenues of $183.6 million.
Headquartered in Spain, Applus is a leading testing, inspection, certification and technological services company operating in 39 countries across five continents through five divisions, namely Inspection & Technical Assistance; Non-destructive Testing & Inspection; Laboratories and Certification; Automobile Engineering; and Testing and Vehicle Inspection. For the financial year ended December 31, 2009, Applus generated revenues of €815.4 million.
Founded in 1987, Carlyle is a global alternative asset manager with $97.7 billion of assets under management committed to 76 funds as at 30 September 2010. Carlyle invests across three asset classes – private equity, real estate and credit alternatives on a global basis and in a variety of sectors. As of 30 June 2010, in the aggregate, Carlyle portfolio companies have more than $84 billion in revenue and employ more than 398,000 people around the world.
For additional information about this transaction, please contact:
- January 2011
- Velosi Limited
- Technology & Services
- Target Location
- Acquiror Location
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