Intertek

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Intertek Group plc
Company type
Public limited company
LSE: ITRK
FTSE 100 Index Component
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HeadquartersLondon, England, UK
Key people
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Websitewww.intertek.com

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Intertek Group plc is a British multinational assurance, inspection, product testing and certification company headquartered in London, England. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.

History

The origins of Intertek can be traced back to three businesses: a marine surveying business formed by Caleb Brett in 1885, a testing laboratory formed by Milton Hersey in Montreal in 1888, and a lamp testing centre established by the Association of Edison Illuminating Companies in 1896.[3] These businesses were all acquired by the multidisciplinary services firm Inchcape plc during the 1980s and early 1990s.[3]

During November 1996, Inchcape Testing Services was acquired by the private equity firm Charterhouse Capital Partners in exchange for £380 million; it was promptly renamed Intertek.[3][4] By this point, the company was heavily involved with numerous governments and other authorities around this world, in America alone, agencies of the US government collectively paid Intertek $35.7 million in exchange for roughly 250,000 tests that were performed between 1994 and 1997.[5][6] During the late 1990s, Intertek was the only American-based registrar for BS 7750.[7]

During September 2000, Intertek's American subsidiary was reported to have allegedly been involved in the falsification of test data that had impacted multiple US government agencies; U.S. Department of Justice brought criminal charges against 13 former employees of the firm for their role in the scandal.[5] The news led to a planned floatation of the company being postponed. Richard Nelson, Intertek's chairman and chief executive, announced that the labs that carried out the work had been closed down and that the firm had reprocessed the relevant data.[5][8] Almost two year later, new plans were announced for the company to be floated on the London Stock Exchange; at the time of the announcement, the company had 10,300 employees and operated in 99 countries through 149.[4][6]

In June 2004, Intertek's ETL SEMKO division acquired the automotive part tester Entela Inc.[9] On 19 September 2007, the firm announced its acquisition of National Software Testing Laboratories;[10] that same year, it also acquired the analytical R&D lab Quantitative Technologies Inc.[11]

In 2010, Intertek acquired Ciba Expert Services’ Environmental, Safety, & Testing and Regulatory businesses, which included Cantox Health Sciences (Cantox) and Ashuren Health Sciences (Ashuren);[12] separately, it also bought Pacifica Marine.[13] One year later, the firm purchased Labs & Testing S.A. (L&T).[14]

During April 2011, the company acquired the technical services specialist Moody International in exchange for £450 million.[15][16][17] In the early 2010s, both the energy and agriculture sectors were major sources of growth for the firm; in particular, Intertek benefitted from the enactment of more stringent regulations in the wake of the 2013 horse meat scandal through its involvement in food testing, although this sector only reportedly accounted for 2.5 percent of its total revenue at the time.[18][19] Accordingly, during early 2013, Intertek recorded record profits accompanied by a 22 per cent dividend hike.[20]

During 2015, in the aftermath of the Volkswagen emissions scandal, the firm experienced an increase in testing work within the automotive sector.[21][22] Other beneficial trends for Intertek in the mid 2010s included greater public interest in sustainability,[23] and the weakening value of the pound sterling.[24] During the late 2010s, the firm focused upon increasing its operating margins and organic growth.[25]

In May 2021, Intertek acquired SAI Global's Assurance and Standards Business units.[26] Two years later, the firm allegedly dismissed a whole team of ex-SAI Global executives over auditing failures.[27]

The company rejected a bid worth $11 billion from EQT AB in April 2026.[28]

Operations

The company has over 45,000 employees across more than 100 countries and operates a network of more than 1,000 laboratories and offices.[2] Centered around its laboratory testing services, the company provides quality and safety assurance to industries such as construction, healthcare, food and transport. Products tested include batteries, accessories, apparel and chemicals.[29]

Leadership

On 16 May 2015, André Lacroix succeeded Wolfhart Hauser as CEO of the company.[30]

See also

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References

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  1. ^ a b c Page Module:Citation/CS1/styles.css has no content."Annual Results 2025" (PDF). Intertek. Retrieved 3 March 2026.
  2. ^ a b Page Module:Citation/CS1/styles.css has no content."Lab testing group Intertek to back £10.6bn takeover by Swedish firm EQT". The Guardian. Retrieved 29 May 2026.
  3. ^ a b c Page Module:Citation/CS1/styles.css has no content."History". Intertek. Retrieved 15 March 2015.
  4. ^ a b Page Module:Citation/CS1/styles.css has no content."Charterhouse to float Intertek". privateequityinternational.com. 30 May 2002.
  5. ^ a b c Page Module:Citation/CS1/styles.css has no content.Shah, Saeed (22 September 2000). "False data charges threaten Intertek flotation". The Independent. Retrieved 27 February 2020.
  6. ^ a b Page Module:Citation/CS1/styles.css has no content."Annual Report for the fiscal year ended December 31, 2001". U.S. Securities and Exchange Commission. 17 April 2002.
  7. ^ Page Module:Citation/CS1/styles.css has no content.Hemenway, Caroline G. (October 2000). "10 Things You Should Know About ISO 14000". qualitydigest.com.
  8. ^ Page Module:Citation/CS1/styles.css has no content.Booth, Tamzin (1 November 2000). "Intertek Again Finds Itself The Center of Controversy". The Wall Street Journal.
  9. ^ Page Module:Citation/CS1/styles.css has no content."Intertek Acquires Entela Inc". Quality Digest. 16 June 2004.
  10. ^ Page Module:Citation/CS1/styles.css has no content."Intertek Acquires National Software Testing Labs". prweb.com. 19 September 2007. Archived from the original on 23 December 2019. Retrieved 22 December 2019.
  11. ^ Page Module:Citation/CS1/styles.css has no content."Intertek acquires US-based QTI". manufacturingchemist.com. 15 June 2007.
  12. ^ Page Module:Citation/CS1/styles.css has no content."Intertek Buys Ciba Expert Services Division". Presswire. 7 April 2010. Retrieved 15 March 2015.
  13. ^ Page Module:Citation/CS1/styles.css has no content."Intertek Acquires Pacifica Marine in Papua New Guinea". offshore-energy.biz. 19 November 2010.
  14. ^ Page Module:Citation/CS1/styles.css has no content."Intertek acquires environmental services firm for £1.3m". moneyweek.com. 8 December 2011.
  15. ^ Page Module:Citation/CS1/styles.css has no content."Intertek acquires Moody International for a consideration of £450 million". Invest in UK. 7 March 2011. Archived from the original on 22 June 2020. Retrieved 27 February 2020.
  16. ^ Page Module:Citation/CS1/styles.css has no content.Turner, Lorraine (7 March 2011). "Intertek makes $730 million strategic buy in energy". Reuters. Retrieved 27 February 2020.
  17. ^ Page Module:Citation/CS1/styles.css has no content.Ruddick, Graham (8 March 2011). "Intertek buys Moody International for £450m". The Daily Telegraph. Retrieved 27 February 2020.
  18. ^ Page Module:Citation/CS1/styles.css has no content."Product-testing firm Intertek eyes a boost from horse meat scandal". London Evening Standard. 4 March 2013.
  19. ^ Page Module:Citation/CS1/styles.css has no content.Moody, Oliver (5 March 2013). "In an uncertain world, it pays not just to pass a test but to run it". The Times.
  20. ^ Page Module:Citation/CS1/styles.css has no content.Ficenec, John (4 March 2013). "Intertek at the races". investorschronicle.co.uk.
  21. ^ Page Module:Citation/CS1/styles.css has no content.Fildes, Nic (25 November 2015). "Intertek set to pick up the pieces". The Times.
  22. ^ Page Module:Citation/CS1/styles.css has no content.Curry, Rhiannon (26 May 2017). "Intertek cashes in as companies look for help testing their products". The Telegraph.
  23. ^ Page Module:Citation/CS1/styles.css has no content.Curry, Rhiannon (24 May 2018). "Intertek boosted by consumer push for sustainability". The Telegraph.
  24. ^ Page Module:Citation/CS1/styles.css has no content.Curry, Rhiannon (11 July 2016). "Questor share tip: Intertek sees gains from weaker pound". The Telegraph.
  25. ^ Page Module:Citation/CS1/styles.css has no content.Dines, Tom (5 March 2019). "Intertek's revenue constrained by translation effects". investorschronicle.co.uk.
  26. ^ Page Module:Citation/CS1/styles.css has no content.Carcano, Sonia (19 May 2021). "Intertek Group's A$855 Million Acquisition of Assurance and Standards Arms from SAI Global". globallegalchronicle.com. Retrieved 8 November 2022.
  27. ^ Page Module:Citation/CS1/styles.css has no content."Intertek Appears to Have Fired Prior SAI Execs as Oxebridge Files Formal Complaint". oxebridge.com. 8 May 2023.
  28. ^ Page Module:Citation/CS1/styles.css has no content."UK's Intertek rejects $11 billion buyout proposal from EQT". Reuters. 16 April 2026. Retrieved 21 April 2026.
  29. ^ Page Module:Citation/CS1/styles.css has no content."Industries". Intertek. Retrieved 27 February 2020.
  30. ^ Page Module:Citation/CS1/styles.css has no content.Treanor, Jill (15 May 2015). "Incoming Intertek chief forgoes bonus after shareholder backlash". The Guardian. Retrieved 27 February 2020.

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