Element Announces Recommended Offer to Acquire Exova

LONDON, UK - April 19, 2017 - Element Materials Technology (‘Element’) today announces a recommended offer to acquire Exova Group (‘Exova’).

The transaction remains subject to approval from Exova shareholders and regulators. The offer has been accepted by Exova’s Board and its largest shareholder, CD&R, the private equity group, which owns 54% of the company.

The combination of Element and Exova will create a truly global, materials testing and product qualification testing business.The combined business will have more than 6,200 employees, over 195 laboratories and operations in over 30 countries.

The transaction will increase Element's global reach across North America, Europe and Asia, and develop even deeper technical expertise, enabling us to better serve our clients and drive enhanced growth.

Charles Noall, CEO of Element, commented: “This transaction will create a truly global materials testing and product qualification testing business, increasing Element’s operational reach across key markets in North America, Europe and Asia. The combined group will benefit from having the best technical talent, very significant testing capacity and a strong network of facilities to support our customers’ global testing requirements. We believe that this acquisition will facilitate greater flexibility to invest further in capacity and technology, driving further opportunities for the combined group.”

About Element:

Element is a company with a global presence; its laboratories are staffed by experts specializing in materials testing, product qualification testing and failure analysis for the Aerospace, Oil & Gas and Transportation and Industrials sectors. Element’s team of over 2,000 scientists, engineers and technicians work in 61 laboratories located throughout the U.S., Europe and Asia. For a complete list of Accreditations & Approvals and more information, please visit 6ref.36837a.com

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