Bureau Veritas Announces Divestiture of its US Emissions Monitoring Business to Alliance Holdings, LLC

Rhea-AI Summary

Bureau Veritas has divested its US Emissions Monitoring business unit to Alliance Holdings, closing the transaction on September 1, 2020. This strategic move allows Bureau Veritas to focus on its core quality assurance services for oil and gas projects in North America while facilitating the expansion of its Energy business, particularly in renewables. The divestiture involves approximately 130 employees and aims to ensure a smooth transition for existing customers. Bureau Veritas remains committed to collaborating with Alliance to meet client needs in the Energy sector.

Positive

• Focus on core quality assurance services in oil and gas, enhancing strategic growth.
• Reinvestment in the Energy business, particularly in renewables.

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• None.

NEW YORK and PARIS, Sept. 2, 2020 /PRNewswire/ -- Bureau Veritas, a world-leader in testing, inspection, and certification (TIC) services, today announced it has divested its Emissions Monitoring business unit based in the US that provides fugitive emissions detection and measurement services, to Alliance Holdings, LLC (Alliance), one of the largest air emissions testing companies in the US. The Emissions Monitoring business is served by approximately 130 employees. The transaction closed on September 1, 2020.

This transaction advances Bureau Veritas' objectives to focus on its core quality assurance offering for oil and gas capital projects and assets integrity businesses at scale in North America and to reinvest in accelerated expansion of its Energy business including renewables. Following the closing, Bureau Veritas will ensure a smooth transition for Emissions Monitoring customers and teams across the US.

"We continue to focus on growing our core business and strategic initiatives to better meet the evolving needs of our clients in North America," said Donna Garbutt, Senior Vice President and leader of O&G North America, Bureau Veritas. "We thank the Emissions Monitoring team for their service to Bureau Veritas and wish Alliance success in its future endeavors. We believe the transaction represents a win-win for both companies as we will continue to collaborate with Alliance to deliver creative solutions to our core clients in the Energy sector."

About Bureau Veritas

Bureau Veritas is a world-leading provider in testing, inspection and certification. Created in 1828, the Group has more than 75,000 employees located in more than 1,500 offices and laboratories around the globe. Bureau Veritas helps its clients to improve their performance 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, ISIN code FR 0006174348, stock symbol: BVI.

For more information, visit www.bvna.com, and follow us on Twitter and LinkedIn.

About Alliance Holdings, LLC

Headquartered in Decatur, AL, Alliance is the leading provider of air emissions testing and monitoring solutions to customers throughout the United States.  With expertise in a variety of end markets, Alliance is focused on People, Process, and Technology to provide unparalleled services to assist customers with meeting their air compliance and risk reduction goals.  For more information, please visit www.stacktest.com or www.alliance-em.com, or email info@stacktest.com.

MEDIA CONTACTS
Theresa Anderson
+1 917 344 4593
theresa.anderson@bureauveritas.com

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SOURCE Bureau Veritas

FAQ

What is the significance of Bureau Veritas divesting its Emissions Monitoring business unit?

It allows Bureau Veritas to concentrate on its core services while expanding its Energy business, particularly in renewables.

When did Bureau Veritas complete the divestiture of its Emissions Monitoring unit?

The transaction was completed on September 1, 2020.

How many employees were involved in the divested Emissions Monitoring business?

Approximately 130 employees were part of the Emissions Monitoring business unit.

What will Bureau Veritas focus on after the divestiture?

Bureau Veritas will focus on its core quality assurance offerings and the expansion of its Energy business.

Who acquired the Emissions Monitoring business from Bureau Veritas?

Alliance Holdings, one of the largest air emissions testing companies in the US, acquired the Emissions Monitoring business.