SGS is pleased to have signed an agreement to divest its US powertrain testing operations as part of its strategic portfolio evolution to Columbia River Partners, a private equity firm focused on the industrials, business services and IT services sectors, headquartered in California.
The powertrain testing operations include combustion engine services for environmental simulation, the testing of powertrain components and testing for additives. It currently employs over 100 technicians across seven sites in the United States and had revenues of approximately USD 27 million in 2022. The sale is effective as of October 1, 2023.
This divestment is part of a portfolio evolution which is further aligning the Group to the TIC megatrends in our chosen markets.
Frankie Ng, CEO of SGS said: “This transaction allows our Connectivity and Products team to increasingly focus on our areas of core competence in automotive materials, on-board electronics and automotive connectivity in regards of EV (Electrical Vehicle), functional safety and automotive V2X communications.
“I would like to thank our customers who have placed their trust in us and our employees who have contributed to build the powertrain testing business in North America. I am confident that Columbia River Partners is the right partner to develop the business in the future.”
We are SGS – the world’s leading testing, inspection and certification company. We are recognized as the global benchmark for sustainability, quality and integrity. Our 98,000 employees operate a network of 2,650 offices and laboratories, working together to enable a better, safer and more interconnected world.