Bureau Veritas’ acquisition boosts offshore business

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BV logoBureau Veritas has acquired MatthewsDaniel, a global company which offers loss adjusting and risk assessment services for the offshore industry.

Created in Houston, Texas, in 1962, MatthewsDaniel is headquartered in London and has operations in Europe, the Middle East, Asia and the Americas. The company employs more than 150 people and reported revenues of approximately €34million in 2013.

MatthewsDaniel primarily provides services for the insurance market and its loss adjusting activities include incident investigations, root cause analysis, damage and reinstatement assessment and cost estimation. Its risk assessment portfolio focuses especially on Marine Warranty Surveying activities for both offshore projects and rigs.

MatthewsDaniel has a very strong position in the offshore oil and gas industry and the services it offers for the upstream energy market are driven by an increasing number of installations in operation and particularly drilling units. This new acquisition allows Bureau Veritas to enter the loss adjusting business and strengthen its position in risk assessment.

Didier Michaud-Daniel, Chief Executive Officer of Bureau Veritas, said: “The acquisition of MatthewsDaniel represents a major development for our Marine & Offshore business. It will diversify our services and help us grow our presence in the offshore industry where we provide very high added value services.”

Kevin Jarman, Chief Executive Officer of MatthewsDaniel, added: “We are very happy to be joining forces with Bureau Veritas, one of the global leaders in technical services to the marine and offshore industry. The extensive geographical platform and resources of Bureau Veritas will allow us to offer our expertise to a more extensive client portfolio worldwide, in particular from the marine industry.”

 

 

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