Applus+ You have closed the sale of your business non-destructive testing and asset inspection in the US (oil and gas) to Ten Oaks Group, a family investment group based in that country. This divestment was announced on March 30 of this year, subject to competition conditions, which have now been met.
The business generated a turnover of 101.8 million euros in 2022 with operating losses, in a highly competitive local market in recent years.
Following this transaction, the group’s margin, one of the global leaders in the inspection, testing and certification sector, is expected to increase by more than 60 basis points by 2023, compared to last year’s margin and before depreciation accelerated division IDIADA.
Applus+ is successfully carrying out its strategy to strengthen the quality of its service portfolio. In the last six months, has announced three divestments in non-core operationswith a turnover in 2022 of more than 150 million euros.
Related news
In addition, since the strategic plan was announced in November 2021, Applus+ has made 9 acquisitions and has bought the 20% that it did not already own in the business of technical inspection of vehicles in Galicia.
In total, up to now, more than 140 million euros have been invested in strategic areas of the portfolio that improve the offer of services towards more sustainable businesses, with higher growth and better margins.