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Tuesday, 2 September 2014

Bureau Veritas acquires MatthewsDaniel

Bureau Veritas acquires MatthewsDaniel Ltd, a global leader in loss adjusting and risk assessment services for the offshore industry.

Created in Houston, Texas, in 1962, MatthewsDaniel is headquartered in London and has operations in Europe, the Middle East, Asia and the Americas. The company employs more than 150 people and reported revenues of approximately EUR 34M in 2013.

MatthewsDaniel primarily provides services for the insurance market. Their loss adjusting activities include incident investigations, root cause analysis, damage and reinstatement assessment and cost estimation. Their risk assessment portfolio focuses especially on Marine Warranty Surveying activities for both offshore projects and rigs.

MatthewsDaniel has a very strong position in the offshore oil and gas industry. The services they offer for the upstream energy market are driven by an increasing number of installations in operation and particularly drilling units. This new acquisition allows Bureau Veritas to enter the loss adjusting business and strengthen its position in risk assessment.

Didier Michaud-Daniel, Chief Executive Officer of Bureau Veritas, said:
“The acquisition of MatthewsDaniel represents a major development for our Marine & Offshore business. It will diversify our services and help us grow our presence in the offshore industry where we provide very high added value services.”

Kevin Jarman, Chief Executive Officer of MatthewsDaniel added:
“We are very happy to be joining forces with Bureau Veritas, one of the global leaders in technical services to the marine and offshore industry. The extensive geographical platform and resources of Bureau Veritas will allow us to offer our expertise to a more extensive client portfolio worldwide, in particular from the Marine industry.”

Bureau Veritas is a world leader in laboratory testing, inspection and certification services. Created in 1828, the Group has more than 65,000 employees in around 1,330 offices and laboratories located in 140 countries. Bureau Veritas helps its clients to improve their performance by offering services and innovative solutions in order to ensure that their assets, products, infrastructure and processes meet standards and regulations in terms of quality, health and safety, environmental protection and social responsibility.

Bureau Veritas is listed on Euronext Paris and belongs to the Next 20 index.
Compartment A, ISIN code FR 0006174348, stock symbol: BVI.
For more information, go to www.bureauveritas.com

Claire Plais: +33 (0)1 55 24 76 09
Mark Reinhard: +33 (0)1 55 24 77 80

Véronique Gielec: +33 (0)1 55 24 76 01

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