Bureau Veritas acquires Owen Group, a US regional leader in Buildings & Infrastructure compliance services
Neuilly-sur-Seine, France, March 18, 2019 – Bureau Veritas, a world leader in testing, inspection and certification, today announced the acquisition of Owen Group Inc. (Owen), a US regional leader in buildings and infrastructure compliance services.
Founded in 1981 and headquartered in Irvine, California, Owen provides buildings and infrastructure asset management and project compliance services including ADA accessibility compliance, deferred maintenance compliance, commissioning, and code compliance. Owen services a substantial client base including state, regional and other government agencies in California. The company employs 45 people and generated revenue of around EUR 7 million in 2018.
The acquisition expands Bureau Veritas’ presence in California and strengthens Bureau Veritas’ position as a market leader in buildings and infrastructure compliance services in the United States.
Didier Michaud-Daniel, Chief Executive Officer of Bureau Veritas, commented: “We are pleased to welcome Owen Group to Bureau Veritas. California represents a key US market for the expansion of Bureau Veritas' Buildings & Infrastructure business. As the largest state in the US by GDP and population, California has continued strong growth prospects and offers significant potential in buildings and infrastructure compliance services. The acquisition of Owen Group is a perfect example of our targeted acquisition strategy, enabling us to increase scale and growth in attractive end markets and strategic geographies."
Michael Chegini, Chief Executive Officer of Owen Group, stated: “We are excited to join the Bureau Veritas Group, and look forward to expanding our geographic coverage and the service offering that we can provide to our clients. We are joining a global leader in testing, inspection, and certification with innovative capabilities outside of Owen Group’s core tech-driven project compliance service offerings, and our clients will now have access to a wide array of technical expertise and services through a single organization.”
Expansion in North America is a priority for the Bureau Veritas 2020 Strategic Plan. Today in North America, the Group has over 7,500 employees and generates 15% of its total revenue.