Element Announces Strategic Acquisition of ISS Inspection Services
Latest acquisition enables leading TIC services provider to further expand its capabilities in the fast-growing aerospace, space, defense, and energy industries
LONDON–(BUSINESS WIRE)–#Acquisition–Element Materials Technology (Element), a global leader in testing, inspection, and certification (TIC) services for highly regulated end markets, has acquired ISS Inspection Services, a leading provider of non-destructive testing (NDT), inspection, and other special process services supporting the aerospace, space, energy and defense industries.
Previously part of Industrial Service Solutions, ISS Inspection Services is comprised of four customer-facing brands: NIC Inspection Services, PTI Industries (both accredited by the Federal Aviation Administration), PRO Inspection Services and CTS Inspection Services. Together, these entities serve almost 1,000 customers operating in the aerospace, space, defense, and energy industries and provide advanced capabilities in NDT, inspection, and special process services such as precision cleaning and coatings. The company’s team of around 300 highly skilled employees work from one of its five facilities in the U.S., or directly at customers’ sites.
Through this acquisition, Element will be able to offer its customers more touch points in the fast-growing NDT ecosystem, particularly in the after-market (AM) and maintenance, repair, and overhaul (MRO) subsectors, as well as new services through ISS Inspection Services’ special process services offering.
Jo Wetz, CEO of Element, commented on the acquisition: “ISS Inspection Services is a fantastic business with a loyal customer base. This acquisition is fully aligned with our growth strategy of increasing scale, reach, and expertise in targeted end markets such as aerospace, energy and defense where our customers see us as their partner of choice.”
Bob Vigne, CEO of ISS Inspection Services, added: “By joining forces with Element, we can tap into huge opportunities for our employees and customers alike. We wholeheartedly believe that by combining our strengths, we are well positioned to deliver an unparalleled range of safety-critical services to our customers.”
The acquisition of ISS Inspection Services builds on other recent investments by Element in the U.S. including its acquisition of NTS in September 2022.
Wetz added: “We continue to see significant growth opportunities in the U.S. which now represents over 60% of our global operations.”
Element was advised on the deal by Faegre Drinker Biddle & Reath LLP, A&O Shearman, and Skadden; and Industrial Services Solutions was advised by Houlihan Lokey, Alantra, and Vedder Price.
About Element
The Element Materials Technology Group is one of the world’s leading global providers of testing, inspection, and certification services for a diverse range of products, materials, and technologies in advanced industrial supply chains where failure in use is not an option. Headquartered in London, UK, Element’s c.9,000 scientists, engineers, and technologists, work across a global network of over 270+ laboratories, support customers from early R&D, through complex regulatory approvals, and into production ensuring their products are safe and sustainable and achieve market access.
For more information about Element, please visit our website, connect with us on LinkedIn, Twitter, Instagram and subscribe to our YouTube channel.
About ISS Inspection Services
ISS Inspection Services is comprised of four entities – NIC Inspection Services, PTI Industries, PRO Inspection Services and CTS Inspection Services. Together, these companies offer three lines of business: non-destructible testing (NDT); Inspection; and Special Processes which provides ancillary services such as precision cleaning, adhesive bonding, and coatings.
With almost 1,000 customers in the fast-growing aerospace, space, defense, and nuclear power generation industries in the U.S., ISS Inspection Services employs a team of ~300 who work in one of the company’s five laboratories in Florida, Texas and Connecticut, or directly at customers’ sites across the country.
Headed up by President and CEO, Bob Vigne, the company’s roots date back to the 1970’s since which time it has expanded rapidly through both organic and inorganic growth.
Contacts
Kate Aldridge, VP Communications, Element
kate.aldridge@element.com
M +44 7767 705364
