|RINA closes 100 per cent acquisition of Edif Group|
|Tuesday, 26 July 2016 16:53|
Classification society RINA has closed its acquisition of the entire share capital of Edif Group for £118.5 million (US$155 million).
The acquisition allows RINA to branch into new areas within its industries and geographies.
This growth will provide global coverage and strengthen RINA’s presence in sectors including defence, energy, transport, built environment and infrastructure.
The Edif Group is a provider of technical inspection and engineering consultancy services designed to reduce risk within multiple industries.
With this deal RINA’s turnover becomes approximately €500 million (US$550 million) per annum with an EBITDA close to €65 million. Following the acquisition, there will be an ongoing acquisition pipeline, which aims to expand the two companies further.
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