The private equity owner of Applus+ is considering a stock market listing for the industrial testing, inspection and certification company, sources told Reuters.
(Reuters) – The private equity owner of Applus+ is considering a stock market listing for the industrial testing, inspection and certification company, three sources with knowledge of the matter said.
Buyout firm Carlyle Group (CG.O: Quote, Profile, Research, Stock Buzz) is looking to cash in on a rise in demand for more safety checks in industries such as oil and gas. It is asking banks to pitch to manage a process which could see the Spanish company go public in Madrid or London early next year, said one of the sources, who spoke on the condition of anonymity.
Carlyle declined to comment on the plans.
It bought Applus+ in 2007 in a deal that valued the company, which has since more than doubled its revenues, at 1.48 billion euros ($1.9 billion).
Recent disasters like the 2010 BP Gulf of Mexico oil spill and a growing environmental movement have spurred calls for better health and safety standards in the energy industry, boosting the demand for services provided by firms like Applus+.
Applus+ has hired John Hofmeister, a former Shell Oil president with a long experience of working for public companies, as a non-executive member of its board, the company said in a statement on Tuesday. He will help to drive Applus+’s expansion in North America and in the services it provides for the oil and gas sector. ($1 = 0.7773 euros)