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TESTNET ENGINEERING

Acquired by

UL SOLUTIONS

GERMANY Industrial Services EV [1m USD - 100m USD] 07/2024

Target

TESTNET ENGINEERING

Acquirer

UL SOLUTIONS

Context

The global safety science leader has successfully finalized the acquisition of a specialized German hydrogen testing leader, marking a definitive step in the group's decarbonization and alternative fuels strategy. This strategic transaction represents a significant enhancement of the organization’s technical operational depth in the high-growth hydrogen economy, specifically targeting the automotive and industrial energy sectors. The strategic rationale for the move centers on the acquirer's objective to provide integrated, end-to-end safety validation for hydrogen storage systems and refueling infrastructure.

This transaction is part of the Business Services industry, which currently tracks an average EBITDA multiple of 11.3x since the beginning of 2026, a stable level compared to 2025. This data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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Target

TesTneT Engineering is a premier technology organization specializing in the safety and performance validation of hydrogen storage components and fuel systems. The entity’s business model is centered on high-expertise testing services, including hydraulic, destructive, and materials testing for high-pressure hydrogen applications. Its value proposition lies in its scientific operational depth, providing mission-critical data to automotive manufacturers and original equipment manufacturers (OEMs) developing hydrogen-powered propulsion systems and refueling infrastructure. Strategically, the firm focuses on the industrialization of alternative fuel technologies, operating specialized laboratory facilities to facilitate the global shift toward decarbonized transportation. By maintaining a leadership position in the high-growth hydrogen economy, the organization ensures a vital role in the transition to sustainable energy systems. The entity prioritizes technical innovation and safety-critical engineering to help navigate the complex regulatory landscapes of low-carbon energy.

Ent. Value

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Equity Value

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Multiples Analysis

EV / Revenue

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EV / EBITDA

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EV / EBIT

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Historical Financials (EUR)

Year
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EBITDA
EBIT
2024
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2023
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Other operations with TESTNET ENGINEERING

mynth data is contributed by M&A / PE professionals and systematically cross-verified against private deal documents and official releases. All source materials are destroyed post-validation to guarantee data anonymity and compliance.