Intertek Group (LSE:ITRK), the global quality assurance and testing company, has announced that it has agreed a recommended all-cash acquisition by Isotope Bidco, a vehicle controlled by EQT Private Equity, at £60.00 per share.
The board of Intertek, advised by Goldman Sachs, JP Morgan Cazenove and PJT Partners, unanimously recommended the terms as fair and reasonable.
EQT's offer represents a premium to Intertek's price prior to the approach, and the total deal value includes dividends due to Intertek shareholders.
Matthias Wittkowski, Global Head of Services at EQT Private Equity, said EQT would focus on "innovation and targeted M&A to enable further international expansion," while CEO André Lacroix described EQT as a partner "committed to accelerating our growth and enabling Intertek to unleash its full potential."
