Bureau Veritas acquires Sistema PRI and enters the booming building and infrastructure market in Brazil
Bureau Veritas has finalized the acquisition of Sistema PRI, a Brazilian company, specialized in project management assistance, the company said in its press release.
Sistema PRI provides services to the transportation, building and energy sectors. Its offering includes construction project management assistance, supervision of works, planning, technical studies and technical assistance.
Established in 1982, Sistema PRI is based in São Paulo and employs around 800 people. In 2013, the company's revenue was approximately EUR 40M (BRL 117M).
With this acquisition, Bureau Veritas diversifies its service offering and customer base in the Brazilian construction, infrastructure and power sectors and strengthens its global leadership in Construction Verification and Control by extending it to a new geography with high potential for growth. Boosted by a public investment plan, the transportation infrastructure (highways, railways, ports and airports), the energy industry (generation, transmission and distribution), and the social housing and sanitation sector, are booming in Brazil. Project management assistance services have generated double digit annual growth during the recent years.
Didier Michaud-Daniel, CEO of Bureau Veritas, said: "Bureau Veritas is already a leading provider of industrial services in Brazil, principally in the oil & gas sector. This acquisition will enable us to diversify our offering to take advantage of the opportunities that rapid urbanization will bring in a country that is investing significantly in the development and renovation of its transport and energy infrastructures."
José Carlos Teani, Managing Director of Sistema PRI, added: "Joining forces with Bureau Veritas is an excellent step for our company. We will leverage Bureau Veritas' network to roll out our activities in Brazil, in other Latin American countries and in new market segments such as oil and gas."
Bureau Veritas now employs over 4,300 staff members in Brazil, following this acquisition.
