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07/2025100%

Applied Technical Services acquired by SGS

UNITED STATES Industrial Services / TIC (Testing, Inspection, Certification) EV $1–10bn

Context

SGS has successfully completed the acquisition of Applied Technical Services, marking a significant milestone in its expansion strategy within the North American market. This transaction follows the clearance of all necessary regulatory approvals and unites two leading forces in the testing and inspection sector. The integration of the target adds over two thousand specialized employees to the acquirer,s family and fulfills a major portion of the group,s growth objectives for the region. Strategically, the combination allows for the generation of sustainable growth and enhanced value for clients through a highly complementary service portfolio. The merger is expected to yield substantial operational benefits, with significant synergies anticipated within the first three years of joint operations. This move strengthens the acquirer,s footprint in critical sectors such as aerospace and defense, while creating a sophisticated platform for long,term shareholder returns through increased scale and technical synergy.

In the past, Applied Technical Services was acquired by Applied Technical Services in 2024 as part of its expansion strategy.

Applied Technical Services, which reported an EBITDA margin of [members only] in 2026, is valued in this transaction at an EV/EBITDA multiple of 10x–18x.

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Target

Applied Technical Services is a premier North American provider of specialized testing, inspection, calibration, and forensics solutions. The company’s business model is centered on providing high,value technical services to highly regulated and high,growth end markets, including manufacturing, aerospace, defense, power generation, and insurance. By leveraging a deep culture of service and technical expertise, the firm assists clients in ensuring the safety, quality, and compliance of their industrial assets and products. With a large team of dedicated professionals, the company operates as a critical technical partner for infrastructure and industrial reliability, offering a complementary portfolio of forensic analysis and precision calibration that supports long,term operational integrity for its diverse client base.

Ent. Value

$1–10bn

Equity Value

[members only]

Multiples

EV / Revenue

2x–6x

EV / EBITDA

10x–18x

EV / EBIT

[members only]

Historical Financials (USD)

Year
Rev
EBITDA
EBIT
2026
$250–500M
$50–100M
[members only]
2025
$250–500M
$50–100M
[members only]

Other operations with Applied Technical Services

Other operations with Applied Technical Services
DateAcquirerTargetCountrySector
11/2024APPLIED TECHNICAL SERVICES (ATS)HYDRADYNEUNITED STATESIndustrial & Technical Distribution

Other operations with SGS

Other operations with SGS
DateAcquirerTargetCountrySector
12/2020SGSSYNLAB ANALYTICSGERMANYTIC (Testing, Inspection, Certification)

Similar deals in Industrial Services

Similar deals in Industrial Services
DateAcquirerTargetCountrySector
08/2025TRANSCATESSCO CALIBRATION LABORATORYUNITED STATESTIC (Testing, Inspection, Certification)
08/2025ACUREN CORPORATIONNV5 GLOBALUNITED STATESEngineering & Consulting
07/2025THE CARLYLE GROUPADASTRA GROUPCANADAEngineering & Consulting
07/2025ACTIVA CAPITALGROUPE DESEGURFRANCETIC (Testing, Inspection, Certification)
07/2025MITIE GROUPMARLOWEUNITED KINGDOMTIC (Testing, Inspection, Certification)
06/2025KILOUTOUFROID LOC SERVICES (FLS)FRANCEEquipment Rental
06/2025BRIDGEPOINTNMI GROUPNETHERLANDSTIC (Testing, Inspection, Certification)
06/2025PHENNA GROUPCONSTRUCTION TESTING SERVICESUNITED KINGDOMTIC (Testing, Inspection, Certification)
04/2025BOREOELFA DISTRELECFINLANDIndustrial & Technical Distribution
04/2025ALDEBARAN CAPITALSERIMAXFRANCEWelding & Piping Services

REFERENCES

Valuation range: EV $1–10bn

Revenue range: $250–500M

EBITDA range: $50–100M

EV/Revenue range: 2x - 6x

EV/EBITDA range: 10x - 18x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Applied Technical Services by SGS are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: applied technical services

FAQ

What transaction does this page cover?

This page covers SGS’s acquisition of 100% of Applied Technical Services, an American company specialised in TIC (Testing, Inspection, Certification), in 2025. This followed an earlier holding cycle initiated in November 2024, when the company was acquired by Applied Technical Services.

How was the acquisition of Applied Technical Services by SGS valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the $1–10bn band, its EV/EBITDA multiple within the 10x - 18x range, and its EV/revenue multiple within the 2x - 6x range. Exact figures are available to members.

What were Applied Technical Services’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Applied Technical Services generated annual revenue estimated in the $250–500M range and EBITDA in the $50–100M bracket (FY 2026). Detailed financial figures are available to members.

What sources support the information on this transaction?

The details of this transaction are sourced directly from the official corporate announcement published on the parties’ institutional website, ensuring primary-source verification of the closing and perimeter.

What is mynth?

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