Genoa-based classification society RINA has signed an agreement for the acquisition of the Edif Group, the UK provider of technical inspection and engineering consultancy services, for £118.5 million (around USD 173.24 million).
The acquisition results in an expanded international geographic footprint for RINA, particularly in the US, UK and Germany, as explained by RINA.
“This acquisition is strategic and fits very well with RINA due to Edif’s profile in the marine industry. The ERA engineering consultancy and the NDE testing, inspection and certification business have an excellent reputation built on excellence, much in the same way as RINA,” Ugo Salerno, RINA’s CEO comments.
The Edif Group, a portfolio company of Phoenix Equity Partners, includes the ERA engineering consultancy and the NDE testing, inspection and certification business.
“I am proud to have co-founded and grown the Edif Group from a standing start over the last 5 years, alongside my colleagues in the Edif team and with the backing of Phoenix Equity Partners,” Rob Dilworth, Edif’s CEO says.
As a result of the deal, RINA says it will employ approximately 3,000 staff and 1,500 associates in over 80 offices in 163 countries.