Intertek to acquire Professional Service Industries for USD330m

Intertek Group has agreed to acquire US-based construction material testing and assurance business Professional Service Industries (PSI) for $330m.

The FTSE 100 company announced the deal on Wednesday and said PSI was leading, high-quality US business focused on the commercial and civil markets.

It said the deal is in line with Intertek's strategy to expand its presence in attractive markets with long-term growth opportunities, particularly US growth markets.

It also claimed Intertek's Building business combining with PSI's construction portfolio creates an industry leading testing and assurance service offering.

PSI's construction business will join Intertek's commercial & electrical division, while its non-destructive pipeline infrastructure testing activities will join Intertek's industry & assurance division.

Intertek said the management team will remain with the business.

Chief executive André Lacroix said: “The demand for construction and building testing and assurance services will continue to grow driven by the strengthening US economy, and we will be uniquely positioned to capture an increased demand for higher quality commercial buildings and public infrastructure,” he noted.