Apave expands presence in North America with acquisition of IRISNDT
05/12/2024
Apave, an international group with over 150 years of experience, specialising in the management of technical, environmental, human and digital risks, has announced that it has reached an agreement with First Reserve and IRISNDT management to acquire IRISNDT, a company specialising in non-destructive testing (NDT) and inspection, with a significant presence in the USA and Canada, as well as in Australia and the UK.
With this acquisition, the Apave Group, which is already present in more than 55 countries, has gained a significant and solid foothold in the USA and Canada, and strengthened its presence in Australia and the UK, geographical areas with strong growth perspectives for the group’s activities (training, testing, inspection and certification (TTIC)).
Founded in 1953, IRISNDT provides NDT/CND and inspection, asset integrity engineering, software applications, wind and specialised mechanical services in a wide range of industrial sectors, including energy, chemicals and agriculture. These services are mainly carried out on customers’ sites, giving them access to turnkey expertise to manage the risks on their sites and ensure the safe operation of their plants and assets.
The services carried out combine traditional techniques, including visual inspection, radiography, ultrasound, magnetic particle and penetrant testing, as well as advanced, innovative techniques such as inspection by drones/robotics, digital radiography, guided wave testing, specialised ultrasonic technology, tube inspection services and so on.
Combined with this technical know-how, IRISNDT also offers its customers asset integrity engineering services for pressure equipment, tanks and piping, including failure analysis and materials engineering, risk-based inspection, fitness-for-service and mechanical integrity services, as well as bespoke software solutions to manage projects and data and provide important key performance indicators (KPIs) to clients. In addition, IRISNDT has developed a fast-growing new line of business for the onshore and offshore wind energy
sector.
IRISNDT has a turnover of more than US$300 million (approximately £237 million), employs over 2000 people across its 48 branches in the USA, Canada, Australia and the UK and has a very high customer satisfaction rating (a net promoter score (NPS) of +70), which demonstrates a strong culture and a commitment to safety and high quality of services.
This acquisition is fully in line with the Apave Group’s 2021-2025 strategic plan, which aims to accelerate its development, particularly internationally, through acquisitions.
Having made more than 20 acquisitions since the end of 2020, enabling it to expand its geographical footprint and enhance its portfolio of expertise, this major acquisition marks a new stage in the group’s ambition.
The acquisition of IRISNDT by Apave makes sense: both companies share common businesses (inspection and NDT) and a common DNA, both in their in-depth knowledge of the industrial sector and in the values held by their employees, and an established safety
culture.
Chris Weyers, Chief Executive Officer of IRISNDT, will join the Executive Committee of Apave Group.
Philippe Maillard, Chief Executive Officer of the Apave Group, commented: “We are delighted to have reached this agreement with First Reserve and IRISNDT management to acquire IRISNDT. IRISNDT teams, such as Apave’s 14,000 employees, share our strong values and the expertise that enables us to support our industrial customers in managing the risks associated with their activities and their own transformation. Our strengthened geographical footprint means that we can now support our customers even more actively and proactively, anywhere in the world. We have a positive future to build together and I am confident in our ability to succeed.”
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| Philippe Maillard, Chief Executive Officer of the Apave Group |
Chris Weyers said: “Our people are our most important asset; we are growing fast and our competence to deploy digital transformation tools delivers extraordinary benefits to our customers and employees. Growth creates opportunities for our employees; we have found a great partner in Apave, which shares the entrepreneurial culture of IRISNDT, where our young leaders, operations managers and operations directors are supported to build a successful business. We look forward to joining forces with Apave.”
Beyond this transaction, the Group intends to pursue its development strategy through sustained organic growth and acquisitions.
