Bureau Veritas (4BV.F) has just completed the acquisition of Quiktrak Inc., an American company specializing in vehicle and agricultural machinery stock audit.
Founded in 1991 and headquartered near Portland, Oregon, Quiktrak provides field inspections and inventory auditing services for leasing and finance companies.
The company has leading-edge technology, including some of the most advanced risk management tools in the industry, particularly its RevoquestTM software for automating the audit and inventory management process. Quiktrak operates primarily in the United States and Canada, and currently distributes its software licenses in 14 countries.
The company employs 90 people and has a vast network of independent inspectors giving the company a strong footprint across the United States. Quiktrak reported revenues of approximately EUR 11 million (USD 15 million) in 2013.
Didier Michaud-Daniel, Chief Executive Officer of Bureau Veritas, said:
“The integration of Quiktrak represents another step in our expansion in North America, and strengthens our specialized vehicle inspection offering. This very dynamic business segment is driven by global growth in car sales and agricultural machinery sales particularly in newly industrialized countries.
Quiktrak brings us high value-added services that complement our comprehensive offering for the sector, including inspection, equipment testing, import controls, vehicle damage tracking and certification of management systems.”
Greg Froomer, Chief Executive Officer of Quiktrak, added:
“We are excited to become a part of this well-recognized, world leading organization, Bureau Veritas. Not only is our company a natural fit and complementary within the Bureau Veritas organization, our companies are culturally aligned as well.”
Bureau Veritas now has 6,000 employees in North America.