Bureau Veritas has entered exclusive negotiations to sell its Oil & Petrochemicals and Coal testing and inspection business to Triton Partners, aligning with its LEAP | 28 portfolio rotation strategy. The business generated approximately EUR 450 million in revenue in 2025 and is considered margin dilutive with lower growth than the Group. The transaction, based on an enterprise value of EUR 470 million, implies an EV/EBIT multiple of 11.1 times on 2025 results post IFRS16 and is expected to be broadly neutral to earnings after closing. Following completion and including other recent acquisitions, Bureau Veritas will have executed approximately 20% portfolio rotation since launching LEAP | 28. The deal is subject to employee consultation and customary conditions, with potential finalization by the end of the first quarter of 2027.
Bureau Veritas SASelling a margin-dilutive, lower-growth business at a reasonable multiple (11.1x EBIT) aligns with portfolio rotation strategy, expected to be neutral to earnings but improves group quality.
Triton Partners acquires a business generating ~EUR 450M revenue, expanding its portfolio in testing and inspection.