N LAPWOOD | SEYMOUR PIERCE
It is an important strategic move for Intertek since it considerably enhances its global position in technical safety services and systems certification. Intertek benefits from the defensive qualities of its business model, favourable long-term market trends and the broad geographic and operational spread of activities.
MIKE MURPHY | NUMIS
It looks like the deal that people have been waiting for given strength of balance sheet and acquisition activity in the sector. My feeling is that Intertek has arrived at the party in some style having done this one. Strategically, it looks a very good fit and is consistent with its strategy of bulking up business to bulk up scale to become more global.
ALEX BARNETT | JEFFERIES
We continue to like the group’s end market exposures and believe the Moody acquisition is a good fit, but current valuation is demanding following the good run into the numbers. Moody is active in energy, industry and certification end markets and should help round out Intertek’s somewhat subscale business in those segments.