OTI Canada Group, a Montréal-based company specializing in petroleum testing and inspection, has been acquired by Bureau Veritas, a global provider of compliance and certification services in the areas of quality, health and safety, the environment and social responsibility. Financial terms of the deal were not disclosed. Based in Neuilly-sur-Seine, France, Bureau Veritas is majority owned by French private equity firm Wendel.
Bureau Veritas reinforces its presence in Canada by acquiring OTI Canada Group
Neuilly-sur-Seine, France, October 3, 2013 – Bureau Veritas is pleased to announce the acquisition of OTI Canada Group, a company specializing in petroleum testing and inspection.
Founded in 1995, OTI Canada Group provides services to oil companies and trading organizations to assess the quality and quantity of diverse petroleum and petrochemical products (gasolines, distillates, fuel oils, and hydrocarbons).
Headquartered in Montreal, OTI Canada Group operates in the eastern part of Canada and has facilities in Quebec City, Sarnia, and Hamilton. The company currently has 27 employees and its revenue for the fiscal year ending June 2013 was EUR 3.4 million (CAD 4.4 million).
Integrating the OTI Canada Group will expand Bureau Veritas’ presence in the Canadian oil & petroleum segment. Canada is the sixth largest oil producing country in the world and has significant long-term prospects for oil production growth.
Didier Michaud-Daniel, Bureau Veritas’ Chief Executive Officer, stated:
“Following the 2012 acquisition of AcmeLabs and the opening of two new laboratories, Bureau Veritas has significantly entered the Canadian market. The acquisition of OTI Canada Group is part of our strategy to strengthen our position in North America in commodities services.”
About Bureau Veritas
Bureau Veritas is a world leader in conformity assessment and certification services. Created in 1828, the Group has more than 60,000 employees in around 1,330 offices and laboratories located in 140 countries. Bureau Veritas helps its clients to improve their performances by offering services and innovative solutions in order to ensure that their assets, products, infrastructure and processes meet standards and regulations in terms of quality, health and safety, environmental protection and social responsibility.
Bureau Veritas is listed on Euronext Paris and belongs to the Next 20 index.
Compartment A, code ISIN FR 0006174348, stock symbol: BVI.
Claire Plais: +33 (0)1 55 24 76 09
Domitille Vielle: +33 (0)1 55 24 77 80
Véronique Gielec: +33 (0)1 55 24 76 01
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