Applus+ has acquired 100% of the share capital of QPS Evaluation Services Inc. from its founding partners. The three senior managers of QPS, including the President, have committed to remaining with the business for several years to ensure a smooth integration. The strategic rationale for the acquisition is to significantly increase the global reach of the Applus+ Laboratories division, particularly in the North American and E&E certification markets. By combining QPS’s recognized certification marks with Applus+'s existing electromagnetic compatibility and wireless communication testing capabilities, the group aims to create a comprehensive global solution for manufacturers. The deal allows Applus+ to capitalize on the rapid growth in E&E product regulations and provides QPS with the scale needed for global expansion. This acquisition follows a three-year partnership between the two companies and aligns with Applus+'s strategy of targeting high-margin, technically specialized assets within the TIC sector.

QPS EVALUATION SERVICES, which reported an EBITDA margin of LOGIN in 2019, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN discount to the 10.9x average currently observed in the Business Services sector.

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