Verily, Bureau Veritas says unto the business world: If you can't measure it, you can't manage it. Bureau Veritas provides technical services focusing on construction, quality, environmental, health, safety, social accountability, and information management issues. Core services include inspection, product testing and certification, ship classification, regulatory compliance, conformity assessment, consulting, and training. The company has 1,000 offices and more than 300 laboratories in 140 countries and serves clients in such industries as construction, manufacturing, petroleum, telecommunications, and transportation. French investment firm Wendel Investissement owns a controlling stake of Bureau Veritas.
Acquisitions are an important part of Bureau Veritas growth strategy. In mid-2010 the company made a potentially big move when it acquired UK-based rival Inspectorate for about $667 million. Inspectorate is a testing and inspection firm formerly owned by Inspicio, a company specializing in acquiring inspection and testing businesses. The deal enhanced Bureau Veritas' commodity testing capabilities as Inspectorate has particular expertise in inspecting ships, terminals, and pipelines for the oil and petrochemicals sector. It also extended its international footprint as Inspectorate owns 150 laboratories in 60 countries.
Bureau Veritas made 15 acquisitions in 2008, diversifying its services and the number of markets it serves. Among its purchases, Bureau Veritas entered the South American market in 2008 when it bought Cesmec, a measuring and testing firm for the mining industry operating in Chile and Peru, and ANASOL, a laboratory analysis company in Brazil. Furthering its mining testing business, in 2008 Bureau Veritas bought Amdel, an Australian company that performs geochemical, mineralogical, and metallurgical tests.
New environmental and consumer products regulations in the US and Europe have helped Bureau Veritas navigate a difficult climate for consulting firms. The company's international operations -- particularly in Latin America, the Middle East, Asia/Pacific, India, and Africa -- performed well and continue to produce steady revenue streams. However, as the economic recession deepened and companies cut back on construction projects, revenues for segments such as construction, health, safety, and the environment suffered somewhat in 2009. – less