Intertek Group Plc (ITRK.L) announced two acquisitions in its Industrial Services division.
Aptech Engineering Services was purchased from its management and employee shareholders for an initial cash consideration of US$5.0 million, or GBP 3.5 million. Further subsequent cash consideration payments of up to US$2.0 million, or GBP 1.4 million, and up to US$6.0 million, or GBP 4.2 million, dependant on financial performance, are payable in mid 2009 and in 2010 respectively.
Aptech provides risk-based inspection and consultancy services to businesses with new and ageing infrastructure.
WISco Enterprises LP and affiliates was acquired from its management owners for a cash consideration of US$26.5 million, or GBP 18.5 million.
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