ABN AMRO Capital has agreed to sell Rontgen Technische Dienst Holding B.V. (RTD), which it acquired in 2002 in a buy-out from Lloyds Register, to Applus Servicios Tecnologicos, S.L., for EUR193 million.
The transaction is expected to be completed in May, and the management team of RTD will continue to lead the company.
RTD provides non-destructive testing and inspection services mainly to the oil, gas and petrochemical industries. Using special techniques such as ultrasound, radiography and other cutting-edge technology, RTD is able to test installations while maintaining their structural integrity.
Founded in 1937, RTD has offices in 11 countries and employs 1,100 people. The turnover amounts to EUR120 million in 2005. Applus, the testing, inspection and certification company formed in 1996, is part of Aguas de Barcelona SA (Agbar Group), originally a Spanish water utility.
ABN AMRO Capital was integral in executing our buy-and-build strategy, providing financial support and strategic advice,” said Ad Verkuyten, CEO of RTD since 2003. “Our new partnership with Applus offers us the opportunity to further widen our service offering to the energy and industrial sectors and build on our strategy of growth.”