Inin Group’s subsidiary Nordic Inspekt Group AB has agreed to the principal terms of an agreement to acquire Swedish non-destructive testing (NDT) company AlfaTest AB.
The planned acquisition will provide access to the attractive global maritime market, where AlfaTest holds a strong position, and strengthen the group’s position in the Swedish non-destructive testing market.
AlfaTest holds all the important industrial accreditations required to perform non-destructive testing. The company possesses both accreditations for conventional land-based manufacturing and processing industry, plus the international certifications required to support the marine and offshore sectors with NDT-services.
“AlfaTest is located in Sweden and has a global footprint through agreements with Swedish and international shipyards and shipowners that bring AlfaTest’s experts around the world. We aim to continue to grow AlfaTest both in the onshore and maritime industries,” says Niklas Persson, head of Nordic Inspekt Group AB.
Inspection is one of Inin Group’s investment platforms, headed up by Nordic Inspekt Group AB. Nordic Inspekt Group utilizes M&A as strategy to build up a challenger in the rapidly growing Nordic NDT and TIC market.
About AlfaTest
AlfaTest is a specialized NDT and engineering company in the shipping, industrial and offshore industries. The company, which is headquartered in Landskrona, Sweden, has a 20-year track record from NDT and TIC services.
AlfaTest’s services include non-destructive testing, ultrasonic thickness measurement, 3D scanning, design, rope access, steel structure inspection, coating inspection as well as QM consulting services.
In 2022, AlfaTest delivered revenues of SEK 14.2 million, with EBIT of SEK 1.9 million. The company is headed by Mark Denny and has six employees in addition to a large network of independent TIC specialists.
All three current shareholders of AlfaTest will continue with the company.
The current owners of AlfaTest comment that they see this acquisition positively, and as the right fit. By joining forces and becoming a part of Nordic Inspekt Group, AlfaTest can strengthen our Maritime presence in the Nordic countries, offering our services to ship and rig owners. As a group, we will be leaner and stronger, able to make decisions quickly where necessary and most importantly, keep the focus of our customers’ best interests.
The transaction is subject to customary closing conditions, satisfactory due diligence, and final transaction documentation. Signing of the final share purchase agreement and closing of transaction is expected to by the end of the second quarter 2023.
