Intertek Group agreed on 18 June to a recommended final cash offer from an EQT-led consortium worth £61.08 per share, valuing the London-based testing, inspection and certification company's equity at about £9.5bn.
Why EQT (Isotope Bidco, with ADIA and Mubadala) is buying Intertek Group plc
EQT said it sees assurance, testing, inspection and certification as a growing market with recurring revenue and regulatory tailwinds. It plans to increase spending on research, AI and digital tools and to pursue bolt-on acquisitions, and intends to review Intertek's portfolio within about a year of completion, building on the company's earlier review of a possible separation of its Energy & Infrastructure arm.
“We are delighted to have reached an agreement to acquire Intertek.”
Deal terms and financing
Holders receive £60.00 in cash and retain the 107.7p final dividend. The consortium is funded with equity from EQT X, ADIA's Luxinva and Mubadala and debt under an interim facilities agreement; EQT's funds are expected to own 76% at completion. Intertek had rejected proposals at 5,150p, 5,400p and 5,800p before backing the final offer.
Regulatory approvals and timing
The deal is being implemented by a scheme of arrangement. Shareholders approved it in early August with about 98.7% of votes cast in favour; court sanction and regulatory approvals remain outstanding, with completion expected in the fourth quarter of 2026 or the first quarter of 2027.
Market context
Intertek serves more than 400,000 clients through over 1,000 laboratories and offices worldwide. Bidco said it would keep the London headquarters.
