Bureau Veritas has entered into exclusive negotiations with Triton Partners for the proposed sale of its Oil & Petrochemicals and Coal testing and inspection business, a move that aligns with the company’s LEAP | 28 strategy to reshape its portfolio toward higher-growth and higher-margin businesses.
The proposed transaction covers the company’s Oil & Petrochemicals and Coal testing and inspection operations, which generated approximately €450 million in revenue in 2025. The business operates through a global network spanning multiple countries and employs a significant workforce across numerous operational sites.
Bureau Veritas said the business has grown at a slower pace than the wider group and has diluted overall margins. It is currently part of the company’s “Optimise Value and Impact” portfolio and is reported within its Agri-Food & Commodities division. The divestment is intended to increase the group’s exposure to businesses with stronger growth prospects and higher profitability.
The company said the transaction marks a key milestone in its LEAP | 28 portfolio transformation strategy. Including acquisitions completed earlier this year, Bureau Veritas expects to have completed around 20 percent of its planned portfolio rotation since launching the strategy.
Hinda Gharbi, chief executive officer of Bureau Veritas, said the divestment reflects the company’s commitment to actively managing its portfolio. She noted that the Oil & Petrochemicals and Coal business operates in mature markets and expressed confidence that, under Triton Partners’ ownership, it would continue to develop successfully. Gharbi added that the transaction is expected to create shareholder value while allowing Bureau Veritas to accelerate its shift toward higher-growth, higher-margin activities.
The proposed deal is based on an enterprise value of €470 million, representing an EV/EBIT multiple of 11.1 times based on the business’s 2025 post-IFRS 16 results. Bureau Veritas said the disposal is expected to improve its organic growth profile, adjusted operating margin and return on capital employed, while having a broadly neutral impact on earnings after completion.
The company plans to reinvest the proceeds into higher-growth and higher-margin businesses in line with its LEAP | 28 strategy.
The transaction remains subject to negotiations, consultation with relevant employee representative bodies and customary closing conditions. Bureau Veritas said the deal could be finalised by the end of the first quarter of 2027.
For more information visit www.group.bureauveritas.com
