Bureau Veritas has entered exclusive negotiations with Triton Partners to sell its Oil & Petrochemicals and Coal Testing and Inspection business.
The planned sale forms part of Bureau Veritas’ LEAP | 28 strategy to reshape its portfolio and focus on faster-growing businesses.
The business generated around €450 million in revenue in 2025. It operates a global network of laboratories and inspection sites across multiple countries.
Bureau Veritas said the business has grown more slowly than the rest of the Group. It also delivers lower margins than its other activities.
The company classified the business within its “Optimize value and impact” portfolio under the Agri-Food & Commodities division.
The proposed transaction values the business at an enterprise value of €470 million. The deal represents an EV/EBIT multiple of 11.1x, based on 2025 results after IFRS16.
Bureau Veritas expects the sale to improve its organic growth profile, operating margin and return on capital employed. The company said the transaction should have a broadly neutral impact on earnings after completion.
Hinda Gharbi, Chief Executive Officer of Bureau Veritas, said the divestment aligns with the company’s long-term strategy.
She said the Oil & Petrochemicals and Coal business operates in mature markets and has a strong global team. She added that Bureau Veritas expects the business to continue developing under Triton Partners’ ownership.
The company plans to reinvest the proceeds in higher-growth and higher-margin businesses.
Following completion of the transaction, and including acquisitions completed this year, Bureau Veritas expects to have completed around 20% of its planned portfolio rotation under the LEAP | 28 strategy.
The transaction remains subject to the completion of negotiations and the signing of definitive agreements
