Bureau Veritas Diversifies with MatthewsDaniel Acquisition
Bureau Veritas announced today that it has acquired MatthewsDaniel Ltd, a global provider of loss adjusting and risk assessment services for the offshore industry.
Created in Houston, Texas, in 1962, MatthewsDaniel is headquartered in London and has operations in Europe, the Middle East, Asia and the Americas. The company employs more than 150 people and reported revenues of approximately EUR 34M in 2013.
MatthewsDaniel primarily provides services for the insurance market. Their loss adjusting activities include incident investigations, root cause analysis, damage and reinstatement assessment and cost estimation. Their risk assessment portfolio focuses especially on Marine Warranty Surveying activities for both offshore projects and rigs.
MatthewsDaniel has a strong position in the offshore oil and gas industry. The services they offer for the upstream energy market are driven by an increasing number of installations in operation and particularly drilling units. This new acquisition allows Bureau Veritas (4BV.F) to enter the loss adjusting business and strengthen its position in risk assessment.
Didier Michaud-Daniel, Chief Executive Officer of Bureau Veritas, said, “The acquisition of MatthewsDaniel represents a major development for our Marine & Offshore business. It will diversify our services and help us grow our presence in the offshore industry where we provide very high added value services.”
Kevin Jarman, Chief Executive Officer of MatthewsDaniel added, “We are very happy to be joining forces with Bureau Veritas, one of the global leaders in technical services to the marine and offshore industry. The extensive geographical platform and resources of Bureau Veritas will allow us to offer our expertise to a more extensive client portfolio worldwide, in particular from the Marine industry.”