Temasek in discussion to acquire Bridgepoint’s testing biz for USD$7bn

In a recent acquisition bid, Temasek Holdings, a Singapore state-owned investor, is on the verge of making a deal to purchase testing firm Element Materials Technology. Owned by buyout company Bridgepoint Group, the firm is set to be acquired for approximately US$7 billion.

As per credible sources, the final acquisition deal will be announced shortly by Temasek, which is an existing owner of minority share in the business.

Reportedly, Bridgepoint, a UK-listed private equity organization, started exploring options for a sale of Element Materials Technology in the previous year, with a variety of buyout companies and investors seemingly showing interest to make an offer.

Apparently, Canada Pension Plan Investment Board and Cinven were considered as the prime parties interested in the acquisition.

Element Materials is a firm which certifies and tests a variety of materials and products widely used in industries like oil & gas as well as aerospace. The history of the firm dates back two centuries and since then, the firm has established almost 200 laboratories across the world.

It is speculated that even though there are discussions ongoing regarding the acquisition of the Element Materials firm, the final call out is still unpredicted.

For the uninitiated, it is predicted that the sale of Element will be one of the biggest by Bridgepoint since it became public in an initial public offering in July.

The present market capitalization of the buyout firm is around US$4.3 billion.

Temasek Holdings Private Limited is a Singapore based state holding firm owned by the Government of Singapore. As of 2021, Temasek manages and owns a portfolio worth S$405 billion, mainly in Singapore and the remaining parts of Asia. The global portfolio of the firm has variety of industries: media and technology, financial services, transportation and industrials, life sciences and agri-food.

Source credit:- https://www.businesstimes.com.sg/banking-finance/temasek-set-to-buy-bridgepoints-testing-business-for-us7b-sources