Citi Capital Strategies Advises H.P. White Laboratory, Inc. on its Acquisition by Intertek
Thursday, October 09, 2008 10:19 AM
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Intertek Group plc, a leading provider of quality and safety solutions to a wide range of industries, has acquired Maryland-based H.P. White Laboratory, Inc., an industry-leading provider of highly specialized ballistic testing services for a wide range of defense, homeland security, and commercial applications. Products and equipment tested by H.P. White include personal and vehicular armor, explosive containment devices, ordnance materials, and security related building components.

Citi Capital Strategies, a division of Citigroup Global Markets Inc. and a leading investment bank serving privately held businesses, served as the exclusive financial advisor to H.P. White Laboratory, Inc. The terms of the transaction were not disclosed.

“We are pleased to team H.P. White with Intertek, a quality buyer that has the global reach and complementary testing capabilities to capitalize on H.P. White’s strong position in the field of ballistics and protective armor testing,” said Eric Williams, Managing Director at Citi Capital Strategies. "As a global leader in testing, inspection and certification, Intertek provides us with the financial resources and expertise to meet the evolving needs of our defense and commercial clients," said Eric Dunn, Vice President of Special Operations at H.P. White. “A partnership with Intertek opens new doors for both our employees and our clients and provides us with the ability to grow our business in new directions.”

Demand for the testing of defense and homeland security related products is being fueled by continued advancements in armor materials and technologies, government and OEM outsourcing trends, and homeland security initiatives as well as more extensive testing required under the new and more expansive National Institute of Justice body armor standard.

Mr. Darrell Lehman, Director of Global Business Development at Intertek, stated “H.P. White has an unmatched reputation for integrity and technical expertise in the fields of ballistics, armor, ammunition, and ordnance materials and has garnered a sterling international reputation and an impressive customer base consisting of a multitude of federal, state, and municipal agencies, and leading defense firms. The acquisition aligns with our growth strategy to expand our testing capabilities into other highly attractive segments of the personal protective market. Clearly, H.P. White is a premier provider of ballistic testing services and is well positioned for future growth. We look forward to working with the H.P.


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