Opus Inspection completes acquisition of EnvirotestMarch 4, 2014
EAST GRANBY, CT -- Envirotest Corp., headquartered in Windsor, Connecticut, USA, is a market leader in the centralized vehicle inspection business in the United States. Program management and operations are conducted in North America, and Remote Sensing Technology (RSD) services are offered globally. Envirotest has exclusive rights to certain RSD patented technology and has developed its own proprietary vehicle inspection database systems (VIDs). Envirotest has 1,060 employees.
On February 28, 2014, Opus Inspection, Inc. completed its acquisition of Envirotest Systems Holdings Corp., renamed to Envirotest Corp., a leading vehicle inspection services and technology company in North America. The purchase price is approximately USD 90 million. The combined company becomes the vehicle inspection market leader in the United States.
• The purchase price is USD 89.9 million on a debt free basis and after consideration for cash.
• Envirotest Corp. will continue to operate with the current management team in place.
• Envirotest Corp. operates long-term vehicle inspection programs in the states of Colorado, Maryland, Indiana, Ohio, and Tennessee in the United States, and in British Columbia in Canada.
• As a result of the merger, Opus Inspection will become the leader in the U.S. vehicle inspection market.
• In 2013, Envirotest had a turnover of approximately USD 82 million.
• The acquisition includes approximately 60 real properties owned by Envirotest.
Opus Inspection, headquartered in East Granby, Connecticut, is a market leader in the United States in the decentralized vehicle inspection business. Program management, data management operations, and equipment sales are conducted in seventeen states, plus Mexico, Peru, and Sweden.
"Envirotest is a company with a great reputation, strong customer relationships, good profitability, and long-term centralized vehicle inspection contracts," said Lothar Geilen, President and CEO of Opus Inspection. "Our combined portfolio covers all aspects of vehicle inspection including, centralized programs, decentralized program management, equipment and software design, engineering, manufacturing and service, Remote Sensing, and much more. Together, we can offer our customers any vehicle inspection solution to meet their needs," Geilen continued.
"Envirotest assets and capabilities will be strong compliments to Opus Inspection and will strengthen our combined position as the leader in the vehicle inspection marketplace," added Mark San Fratello, President of Envirotest. "This merger will provide significant benefits to Envirotest customers and employees," he added.
The merger will combine the strengths offered by both Opus Inspection and Envirotest, add valuable human resources and infrastructure, and provide a clear path for new business and future growth both domestically as well as in the global vehicle inspection market. For more information about Envirotest, visit http://www.etest.com and for Opus Inspection, go to http://www.opusinspection.com.
Most Read Articles