Inspectioneering
Press Release

Intertek acquires Global X-Ray & Testing Corporation

Press Release, October 3, 2013

Intertek Group plc (Intertek), a leading quality solutions provider to industries worldwide, announces it has acquired Global X-Ray & Testing Corporation (GXT), a U.S. based provider of non-destructive testing and mechanical integrity services to the oil and gas industry.

Intertek purchased the company from private equity firm Platte River Equity and the management shareholders for a total cash consideration of US$ 72 million (GBP 45 million).

GXT is headquartered in Morgan City, Louisiana, U.S.A. and serves offshore and increasingly onshore customers in the U.S. energy market. The company, founded in 1964, has built a strong reputation as one of the leading U.S. providers of a range of non-destructive testing (NDT) solutions. Services include X-ray, ultrasonic and magnetic particle testing and are provided throughout the life cycle of major oil and gas companies' assets, from construction and operation to maintenance and decommissioning.

GXT will form part of Intertek's Industry & Assurance division, where the combined expertise and highly complementary services of both companies will place Intertek as one of the leading suppliers in North America for industrial inspection and advisory services to both the offshore and onshore energy markets.

Wolfhart Hauser, Chief Executive Officer of Intertek, commented:

"This is an exciting extension of our market leading industrial inspection business into the provision of Asset Integrity Management services for our energy customers. GXT has a well-established presence across all stages of the oil and gas supply chain in the U.S. which fits well with our existing portfolio of Industrial inspection services."


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