ABN AMRO Capital has agreed to sell Röntgen Technische Dienst Holding (RTD), a Dutch headquartered testing and inspection company, to Applus Servicios Tecnologicos, for an enterprise value of €193m.
Return details were not disclosed for the four year investment, during which time ABN has installed a new CEO, Ad Verkuyten, and backed a number of acquisitions including Compra in Germany, Steeltest in Australia and PS&I in France.
RTD is one of the world’s largest providers of non-destructive testing (NDT) and inspection services to the oil, gas and petrochemical industries. It recorded a turnover of €120m in 2005, with offices in 11 countries employing 1,100 staff.
The buyer, Applus, is part of what used to be a Spanish water utility group, Aguas de Barcelona, and specialises in testing, inspection and certification across a number of sectors.