3i Group PLC’s Trescal portfolio company plans to acquire Dynamic Technology Inc., a Detroit, Mich.-based company that offers calibration and repair services of test and measuring equipment. The deal allows Trescal to enter the U.S. market. Trescal provides calibration services.
Trescal, the European market leader for calibration services, is continuing its international expansion with the acquisition of Dynamic Technology Inc. (DTI), a principal service provider in the US. The transaction will allow Trescal to take a major step forward in its development by entering the US market and becoming the largest global provider of calibration services.
Founded in 1987, DTI is based in Detroit, Michigan. With a turnover of $23 million (€17.7 million), DTI employs 180 staff spread across five laboratories (Detroit, Chicago, Cleveland, Dallas and Houston). DTI’s reputation has resulted in consistent annual growth rates of over 20% since its formation in 1987. The company’s success is based on its exceptional quality of service, which enables it to work with over 4,500 customers in the automotive, aeronautics and space, pharmaceuticals, semiconductors and telecoms industries. DTI is particularly renowned for calibration solutions used by the automotive industry. DTI’s laboratory and on-site services for customers are accredited by The American Association for Laboratory Accreditation (A2LA).
DTI’s reputation and philosophy are well aligned with Trescal’s values. Both companies share high ethical standards, technical excellence and are dedicated to providing a high level of customer service.
According to Pete Szekeres, President and founder of DTI, comments: “Trescal has shown incredible professionalism, hospitality and courtesy during the entire process and I am eternally grateful for that. It has been a pleasure to work with Trescal and there is absolutely no doubt in my mind that this will be extremely successful, not only for both companies, but for our customers as well. I would like to commend Olivier Delrieu and Guillaume Caroit for their hard work and effort to make this all happen”.
Following 3i and TCR Capital’s investment in Trescal in September 2010, the company has accelerated its international expansion and consolidation of the market, particularly outside Europe. In only four months of working together, Trescal has seen rapid growth.
This transaction fits into Trescal’s growth strategy by:
– Establishing a presence in the US market with a strong position in relation to key customers
– Supporting European customers in the US and American customers in Europe who are looking for a single service provider
– Establishing the Trescal group as a real global player in calibration services
Rémi Carnimolla, partner at 3i, adds: “This acquisition represents a major strategic development. We all shared the ambition of creating a global leader and this was the motivation for our decision to support Trescal and its team. 3i is renowned for its expertise in the business services sector and global network. We quickly made our US network and experience in transatlantic deals available to Trescal and DTI to ensure the best possible outcome for the transaction. We will continue to support Trescal and DTI in this way.”
Olivier Delrieu, Trescal CEO, concludes: “The acquisition of DTI, one of the leading operators in the calibration sector in the US, illustrates the group’s dynamism and its ambitious strategy. It will provide a platform to increase our penetration of this important market, which is undergoing consolidation. I am delighted that DTI and Trescal share the same fundamental values: safety and technical excellence, for the benefit of our customers all over the world.”
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For further information, contact:
Kathryn van der Kroft, Tel: +44 20 7975 3021
Guillaume Caroit (General Secretary), Tel: +33 (0)1 56 70 36 10 – firstname.lastname@example.org
Catherine Bourdoncle (Communication Director), Tel: + 33 (4) 42 46 99 66 email@example.com
Dynamic Technology Inc.
Lonnie Spires (Managing Director), Tel:+ 1 810-225-4601 ext 277- firstname.lastname@example.org