Acquisition

INTERTEK STRENGTHENS ITS PRODUCTS TESTING BUSINESS WITH ACQUISITION OF LEADING FLOORING PRODUCTS TESTING COMPANY

• Rapidly evolving consumer trends and regulatory demands are accelerating the need for industry-leading ATIC solutions that ensure quality, safety and sustainability standards across all flooring materials

• PTL is a market-leading provider of testing services to the USA's flooring industry and expands Intertek's leading Total Quality Assurance (TQA) business in North America in a high-growth, high-margin sector

• PTL's leading flooring products testing business is highly complementary to Intertek's existing strengths in products testing ATIC solutions globally, unlocking attractive synergies across Intertek's ATIC portfolio

Watch the video here: www.intertek.com/investors/PTL-video/

Intertek Group plc ("Intertek" and "Group"), a Total Quality Assurance provider to a range of industries worldwide, is pleased to announce that it has acquired Professional Testing Laboratory, LLC ("PTL"), a leading provider of high-quality testing services for the flooring industry, based in the USA.

Rapidly evolving consumer trends and increasingly rigorous regulatory demands are accelerating the need for industry-leading Quality Assurance solutions in the global flooring industry. As the market leader in high-quality testing services for the USA flooring market, PTL is well positioned to capitalise on these structural growth drivers.

The acquisition is highly complementary to Intertek's leading TQA business in North America and will unlock strong commercial synergy opportunities, such as expanding PTL's services to Intertek's existing clients, including major retailers, while also capitalising on the Group's existing capabilities in the USA to provide new services to PTL's customer base.

In a global flooring market valued at $376bn and forecast to grow at 6.8% per annum to 20301, the acquisition also provides an opportunity to expand PTL's testing services internationally, broadening beyond the USA by leveraging Intertek's scale and global footprint in other key flooring markets around the world.

Founded in 1988, PTL operates from its 30,000 square foot laboratory in Dalton, Georgia, one of the largest flooring manufacturing hubs in the world. PTL today has 26 employees and generated revenues of £4.3m in 2024, making it a strategic acquisition in an attractive growth segment with a high-quality earnings model.

André Lacroix, Chief Executive Officer of Intertek, said: "The acquisition of PTL is highly complementary to Intertek's comprehensive range of product-related testing and certification capabilities in North America and across the globe, strengthening our presence in an attractive, high-growth, high-margin flooring materials market with compelling growth drivers. We welcome the PTL team to Intertek and look forward to the growth opportunities ahead."

[1] Grand View Research's Latest Market Research Findings Predict Major Shifts in Flooring Market by 2030

-ENDS-

For further information please contact:

Denis Moreau, Investor Relations

Telephone: +44 (0) 20 7396 3415 [email protected] 

Jonathon Brill/James Styles, DGA

Telephone: +44 (0) 7836 622 683 [email protected]