Thursday, March 06, 2014

TÜV Rheinland acquires British company

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Cologne, Germany-based TÜV Rheinland said Thursday, March 6, 2014, it has acquiried Risktec Solutions Ltd., based in Warrington, U.K. Risktec has offices in the United Kingdom, the Netherlands, the Middle East, and in North America.

Risktec provides risk and safety services and offers technical training and education to highly regulated industrial sectors around the world. Risktec's core industries include the oil and gas industry, nuclear power generation, and the railway sector, TÜV Rheinland said.

Dr. Manfred Bayerlein, CEO of TÜV Rheinland, said, "Risktec is an excellent addition for us, complementing our established services and fully in line with our strategy for 2017. With Risktec, we can now offer our industry customers further important services, providing independent advice on a wide range of risk and safety issues."

With its 230 employees, Risktec most recently generated sales revenue of more than $46.7 million, with efforts focused particularly on the markets of the U.K., North America and the Middle East, TÜV Rheinland said. TÜV Rheinland's own North American headquarters are in Newtown, Conn., with the company staffing offices in the U.S., Canada, and Mexico.

Risktec Solutions Ltd. Managing Director Alan Hoy said, "We are very pleased to become part of TÜV Rheinland. The two organizations complement each other well and share a common desire to provide high-quality services to clients. Our aim has always been to work with our clients for the long term, over the complete lifecycle of their assets, and being part of TÜV Rheinland extends our ability to do this."

TÜV Rheinland said the acquisition of Risktec enables TÜV Rheinland to assist clients in meeting the demand to demonstrate compliance with increasingly stringent international legislation and industry standards.