Stewart Group has entered into an unconditional agreement to be acquired by ALS Group, the testing services business of Campbell Brothers for an enterprise value of 146 million British pounds (about Aus$222 million). Completion of the acquisition is anticipated to take place on July 21.
ALS is a leader in testing and technical services in the minerals, metallurgical, coal, environmental, tribology, food/pharmaceutical and industrial markets. It is one of the largest and most successful commercial laboratory groups in the world, with more than 8000 staff operating 270 laboratories in 44 countries and offering a broad range of inspection and analytical testing services.
UK-based Stewart Group is a provider of geochemical, metallurgical and inspection services to the mining and processing industries worldwide. It employs about 900 staff, operating from 26 laboratories and offices throughout North America, Africa, Asia and Europe.
Stewart Group has earned an outstanding reputation, built on over 40 years of service to clients in a wide range of sectors. It operates three main global divisions:
- The Geochemical & Assay Division has operations in Ireland, Canada, Mexico, Russia, Mongolia, Kyrgyzstan, Kazakhstan, South Africa and West Africa, and provides geochemical and assay services to exploration and mining companies.
- The Inspection & Analysis Division provides inspection and analytical services to the coal, metals and mineral trading markets through offices and laboratories in the UK, Netherlands, Belgium, Germany, Mongolia, Kyrgyzstan, and southern parts of Africa.
- The Mineralogy & Metallurgy Division operates one of the largest metallurgical businesses in North America via its laboratories in Kamloops, Canada.
Stewart Group will be integrated into the Minerals Division of ALS.
Campbell Brothers’ managing director Greg Kilmister says: “The acquisition of the Stewart Group will provide ALS with the opportunity to expand our existing geochemical services into new and emerging geographies. The metallurgical facilities in Canada will allow us to accelerate the development of a global metallurgical business following the acquisition of Ammtec Limited last year. The Inspection & Analysis Division creates a new business stream for ALS and will benefit from ALS’ broader global footprint and client relationships.
“We look forward to working with the Stewart Group team to build on their specific capabilities through ALS’s global network, and expect that the combined operations of ALS and Stewart Group will present staff with enhanced career opportunities.”
Stewart Group managing director John Notman-Watt says, “I would like to thank CBPE Capital LLP for their support in the development of Stewart Group over the last five years. The acquisition by ALS is an excellent outcome for Stewart Group and its employees.
“The strategic fit between ALS and Stewart Group will accelerate the development of our combined integrated service proposition enabling us to provide a wider service offering to customers on a global scale and we are all looking forward to the future with ALS.”