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Temasek Seen Buying Bridgepoint’s UK Testing Firm for $7bn

Singapore’s Temasek Holdings has agreed to buy Element Materials Technology for about $7 billion, as it sees a chance to boost growth at the testing and inspection services provider, sources say


 

Singapore’s Temasek Holdings has agreed to buy Element Materials Technology for about $7 billion, as it sees an opportunity to boost growth at the testing and inspection services provider, two sources familiar with the matter said.

State investor Temasek, which acquired a significant minority stake in Element in 2019, is buying the company from London-listed buyout firm Bridgepoint Group and an announcement could be made as early as Monday, one of the sources said.

The buyout will be one of the biggest ever deals by Temasek and a rare controlling-stake transaction by the investor, which reported a 25% rise in its portfolio value to a record S$381 billion ($283 billion) in the year ended March 2021.

The sources declined to be identified as details of the deal have not been made public.

Temasek declined to comment, while there was no immediate response from Bridgepoint and Element Materials to a Reuters query sent outside regular business hours.

Bridgepoint acquired Element from British buyout group 3i for an undisclosed sum in December 2015.

Element is one of the world’s leading global providers of testing, inspection and certification services for a diverse range of products and technologies. It caters to clients in aerospace, industrial, energy, technology and other sectors.

Element’s 7,000 scientists, engineers and technologists work in its global network of more than 200 laboratories.

 

• Reuters with additional editing by Jim Pollard

 

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Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years and has a family in Bangkok.

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