Bureau Veritas Strengthens US O&G Position by Acquiring DTI
- Business & Finance
Bureau Veritas has acquired DTI DiversiTech, Inc., a US company specialized in inspection and audit services for the oil and gas sector.
Founded in 1989 and based in Texas, DTI is the US leader in inspection of offshore subsea and completion equipment used in drilling operations, a market estimated at USD 150 million. The company employs more than 85 people and generated revenue of approximately EUR 15 million (USD 20.3 million) in the year ended August 31, 2013.
DTI will allow Bureau Veritas to strengthen its presence in the oil and gas market in the United States, particularly in the Gulf of Mexico. This region offers significant growth prospects that are driving investment in new drilling and production infrastructure.
Didier Michaud-Daniel, Bureau Veritas’ Chief Executive Officer, said: “The oil and gas industry is increasingly using our services amidst growing technological challenges in offshore exploration and production, in a more stringent regulatory environment. The integration of DTI strengthens our expertise and reinforces the Group’s technical capabilities and position in the United States.”
Gerald Falls, DTI’s President and Chief Executive Officer, added: “We are delighted to become a part of Bureau Veritas. Our complementary activities will enable us to offer additional services to our clients and to accelerate DTI’s expansion.”
Bureau Veritas’ workforce in North America now reaches more than 6,000.