Bureau Veritas acquires majority share in Lubrication Management SL
Bureau Veritas, a global leader in testing, inspection and certification services, has acquired a majority shareholding in Lubrication Management SL (previously the industrial oil analysis business unit of IK4TEKNIKER), a European oil analysis leader. The laboratory, near Bilbao, Spain, will form the European hub for Bureau Veritas’ global network of oil condition monitoring laboratories.
Founded in 1981, IK4Tekniker has built a world-renowned reputation for lubrication services in industrial markets. The Lubrication Management division has 26 employees and generated revenues in 2017 of around EUR 4 million (USD 4.81 million).
The experience and platforms developed by Lubrication Management SL for the wind turbine oil, transformer oil and grease analysis markets complement Bureau Veritas’ existing expertise in oil condition monitoring. Bureau Veritas and IK4Tekniker plan to continue a strategic partnership focused on research and development for machinery condition monitoring.
“Bureau Veritas’ ambition is to be recognized as a global leading player for oil condition monitoring by 2020. This acquisition is an important milestone in the development of our OPEX strategy,” said Didier Michaud Daniel, the chief executive officer of Bureau Veritas. “Lubrication Management reinforces our focus on the development of value-added services and data management aimed at maximizing customers’ operational performance.”
“This is an exciting new phase for Lubrication Management as our core values of quality, service excellence and technical expertise are shared by both companies,” said Jesús Terradillos, director of Technological Services at Lubrication Management SL IK4TEKNIKER.
“Our customers can look forward to continued expertise and excellent customer service, supported by a global company that is synonymous with high quality, professionalism and integrity.”
Bureau Veritas is listed on Euronext Paris and belongs to the Next 20 index.