Exova

Exova Group plc was a laboratory-based testing company, operating primarily within the Testing segment of the Testing Inspection and Certification (“TIC”) sector. It was listed on the London Stock Exchange until it was acquired by Element Materials Technology Group in June 2017.

Exova Group Limited
TypeLimited company
IndustryMaterials testing
FateAcquired by Element Materials Technology
Founded2008
Defunct2019
HeadquartersEdinburgh, Scotland, UK
Key people
Paul Barry (Interim CEO)
Revenue£328.5m (2016)[1]
£43.5 million (2016)[1]
£(28.7) million (2016)[1]
Number of employees
6,200 (2017)
ParentElement Materials Technology
Websitewww.exova.com

History

The Exova brand was established in 2008, following a carve-out transaction from Bodycote, by funds managed by the private equity company Clayton Dubilier & Rice for £417m in 2008.[2] Exova was subsequently listed on the main London Stock Exchange on 16 April 2014 and entered the FTSE 250 in June 2014.[3] In July 2014 the company acquired Metallurgical Services Private, an Indian testing services firm.[4] In May 2015 Exova also acquired BM TRADA, the international provider of certification schemes and building products testing services.[5]

Element Materials Technology Group announced a bid to acquire the company in April 2017;[6] the transaction completed on 30 June 2017.[7]

It emerged on 1 July 2017 that Exova had produced reports that allowed combustible cladding to be fitted to tall buildings "arguing fires involving combustible aluminium panels would behave similarly to ones with non-combustible ceramic tiles."[8]

Operations
Exova Pharma, Mississauga, Ontario, Canada

Exova is headquartered in Edinburgh, UK. Exova employs 4,500 people in 121 laboratories in 32 countries worldwide. The Group tests materials, components, products and systems to ensure compliance with safety, performance and quality standards. The company specialises in testing across a number of sectors including health sciences, aerospace, transportation, oil and gas, fire and construction.[9]

Exova services include calibration, chemistry and microbiology, corrosion and protection, fire, metal technology, polymers and composites, and structures and systems. Exova operates in different sectors under a number of brands, including:

  • Exova Warringtonfire[10]
  • Exova Metech[10]
  • Warrington Certification[10]
  • Exova Catalyst[11]
  • Exova RPC[12]
  • Exova Metallurgical Services[13]
  • Exova BM Trada[5]

References
  1. "Preliminary Results for year ended 31 December 2016" (PDF). Exova. Retrieved 3 February 2017.
  2. "Bodycote lifted by sale of testing business". The Telegraph. 29 August 2008. Retrieved 25 June 2014.
  3. "Exova edges above IPO pricing". Scotsman. 12 April 2014. Retrieved 25 June 2014.
  4. "Exova Buys Indian Testing Services Firm". Barron's. 21 July 2014. Retrieved 24 August 2014.
  5. "Exova buys BM Trada in £22 million deal". Herald Scotland. 14 May 2015. Retrieved 28 April 2016.
  6. "Element Materials agrees £620m deal for lab tester Exova". FT. 19 April 2017. Retrieved 25 June 2017.
  7. Official Offer Documents
  8. How Flammable Cladding Gets Approved BBC News 1 July 2017
  9. "Exova Supports Boeing Apache programme". Azom. 7 October 2014. Retrieved 16 February 2015.
  10. "Bodycote goes on £30m buying spree". Manchester Evening News. 15 February 2007. Retrieved 18 February 2015.
  11. "Exova acquires Catalyst Environmental Limited (Exova Group Limited)". WN.com. 16 January 2014. Retrieved 18 February 2015.
  12. "optical strain measurement subsea pipeline testing". Pipeline and Gas Journal. July 2014. Retrieved 18 February 2015.
  13. "UK-based Exova Group acquires Metallurgical Services". 21 July 2014. Retrieved 18 February 2015.
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