Bureau Veritas announces divestment of oil, petrochemicals and coal testing business
Bureau Veritas SA (EPA:BVI) saw its shares rise by 1.21% after confirming it is in talks with Triton Partners to sell its oil, petrochemicals and coal testing and inspection unit for an enterprise value of €470 million. The unit reported approximately €450 million of revenue for the fiscal year 2025 and grew at a slower pace than the broader Group, being described as margin‑dilutive.
The transaction is priced at an EV/EBIT multiple of 11.1 times based on the 2025 results after applying IFRS 16. Bureau Veritas indicated that the deal is expected to be broadly neutral to earnings once closed, while also delivering a positive effect on organic growth, adjusted operating margin and return on capital employed (ROCE).
Chief Executive Officer Hinda Gharbi stated that the oil, petrochemicals and coal testing business operates in established and mature markets and that the proceeds from the sale will be redeployed toward higher‑growth and higher‑margin businesses within the Group. The divestment represents roughly 20% of the portfolio rotation undertaken since the launch of the LEAP | 28 strategy.
The transaction remains subject to customary closing conditions, including employee consultation procedures, and is targeted to be finalised by the end of the first quarter of 2027.