NEUILLY-SUR-SEINE, FRANCE (January 4, 2018) – Bureau Veritas, a global leader in testing, inspection and certification services, announced today that it has acquired a majority shareholding in Lubrication Management SL (previously the industrial oil analysis Business Unit of IK4-TEKNIKER), a European oil analysis leader. The laboratory, near Bilbao, Spain, will form the European hub for Bureau Veritas’ global network of oil condition monitoring laboratories.

Founded in 1981, IK4-TEKNIKER has built a world renowned reputation for lubrication services in industrial markets. The Lubrication Management division has 26 employees and generated around EUR 4 million revenues in 2017.

The experience and platforms developed by Lubrication Management SL for the wind turbine oil, transformer oil and grease analysis markets complement well Bureau Veritas’ existing expertise in oil condition monitoring. Bureau Veritas and IK4-TEKNIKER plan to continue a strategic partnership focused on research and development for machinery condition monitoring.

“Bureau Veritas’ ambition is to be recognized as a global leading player for oil condition monitoring by 2020. This acquisition is an important milestone in the development of our OPEX strategy”, said Didier Michaud-Daniel, Chief Executive Officer of Bureau Veritas. “Lubrication Management reinforces our focus on the development of value added services and data management aimed at maximizing customers’ operational performance.”

“This is an exciting new phase for Lubrication Management as our core values of quality, service excellence and technical expertise are shared by both companies,” said Jesús Terradillos, Director of Technological Services at Lubrication Management SL – IK4-TEKNIKER. “Our customers can look forward to continued expertise and excellent customer service, supported by a global company that is synonymous with high quality, professionalism and integrity.”