Intertek Group receives Chartered Accountants' (ICAEW) top award
07 Nov 2013
FTSE 'best in class' for effective use of M&A to increase shareholder value and grow
London: Intertek Group was recognised with the ICAEW's top Corporate Development award at their Annual Reception in London last night.
Intertek was chosen from among some of Britain's most high profile international FTSE100 companies as the only organisation to receive this prestigious Award.
The Corporate Development award was presented to Intertek for "most effective use of M&A to increase shareholder value" and was based on the impact of substantial acquisitions on total company returns and overall corporate performance. It was devised by the Corporate Finance Faculty in partnership with the M&A Research Centre (MARC) at Cass Business School.
Sir Nigel Rudd FCA who presented Lloyd Pitchford, Chief Financial Officer of Intertek with the Award, said "The deserved winner of our prestigious Corporate Development award may not be a household name but Intertek plays a crucial part in making other businesses competitive - and supporting their brands. A £5bn FTSE-100 company, Intertek provides quality and safety solutions primarily through laboratory-based testing, inspection and certification services to 200,000 customers in 17 industry sectors.
"As a UK plc, Intertek's strategy of acquiring international testing, inspection and certification companies has enabled it to provide truly global services for its customers and thereby consolidate its position amongst the global safety services leaders. With 36,000 people in more than 1,000 laboratories in over 100 countries, this company last year generated revenues of £2bn," he added.
David Petrie, ICAEW's head of corporate finance, said: "Intertek is a UK-based multinational that is a genuine world leader. Its M&A success, supported by expert corporate finance advisers, has seen it continue to build in many international markets and countries."
Commenting on the award, Lloyd Pitchford, Chief Financial Officer of Intertek said: "This recognition reflects the on-going work of the Intertek people in developing and enhancing acquisitions that offer quality solutions for our customers the world over."
The ICAEW Corporate Finance Faculty's Reception is an annual London-based event.
For more information: www.icaew.com/cff
Contact: Joanne Merriweather, Group PR Manager, London
Intertek is the leading quality solutions provider to industries worldwide. From auditing and inspection, to testing, training, advisory, quality assurance and certification, Intertek adds value to customers' products, processes and assets. With a network of more than 1,000 laboratories and offices and over 36,000 people in more than 100 countries, Intertek supports companies' success in a global marketplace. Intertek helps its customers to meet end users' expectations for safety, sustainability, performance, integrity and desirability in virtually any market worldwide. Visit www.intertek.com.