The company ‘Temasek Holdings’ based in Singapore has now agreed for the acquisition of the Element Materials Technology for around 7 billion dollars, as the company has been seeing an opportunity for boosting the growth at the provider of the inspection and testing services as said by the sources familiar with the matter.
The company Temasek, which had acquired a significant minority stake in the Element Materials Technology in the year 2019, and Temasek is now buying the company from the buyout company known as Bridgepoint Group and an announcement can possibly be made as early as possible.
The acquisition is going to be one of the largest ever deals by the company ‘Temasek’ and a it has also been a controlling-stake transaction by the investor, which had successfully reported an increase of 25 percent in the portfolio value of the company to a record of 283 billion dollars in the year ended in the month of March 2021.
The company ‘Temasek’ has also declined for making any comments, as there had been no immediate response from the Element Materials and Bridgepoint, and the company ‘Bridgepoint’ had previously acquired the company ‘Element Materials’ from the buyout group 3i of United Kingdom for a sum that is now revealed in the month of December 2015.
The company ‘Element’ has been one of the leading global providers of the testing across the world, along with the certification and inspection services for a diverse range of the technologies and products.
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