Bureau Veritas, a global leader in Testing, Inspection, and Certification services (TIC), announces that it has signed an agreement to acquire Lotusworks, a global leader in mission‑critical assets commissioning and quality assurance and control. This strategic move will uniquely position the Buildings & Infrastructure Product Line to benefit from AI-driven construction investments.
Headquartered in Ireland, Lotusworks is a leading provider of commissioning, quality assurance and quality control, calibration, maintenance, and construction management services for mission‑critical facilities for semiconductors manufacturers and data center owners. The Company operates in the United States and Europe, and employs 750 people including highly skilled experts, serving a diversified base of blue‑chip global clients, including hyperscalers and semiconductor manufacturers. Lotusworks’ activity is supported by long‑term frameworks, a strong multi‑year backlog, and recurring technical services in environments requiring world‑class expertise, and rigorous execution. In calendar year 2025, the company generated EUR 131 million in revenue. This acquisition will enhance Bureau Veritas’ organic growth and will be accretive to the Group’s Adjusted Operating Margin.
The acquisition is a key milestone in the implementation of LEAP | 28, strengthening the Group’s leadership in the Buildings and Infrastructure sector. Combined with Bureau Veritas’ existing data center activities, this creates a new mission-critical platform, unique in the TIC industry. Bureau Veritas becomes a leader in the high-growth, technically complex market of data centers and semiconductors manufacturing. At closing, this platform will represent circa 15% of the Buildings & Infrastructure division.
“The acquisition of Lotusworks is a major milestone for Bureau Veritas,” said Hinda Gharbi, Chief Executive Officer of Bureau Veritas. “The company brings outstanding technical capabilities, long‑standing customer relationships, and a strong presence across strategic markets of data centers and semiconductors manufacturing. By combining Bureau Veritas’ rigorous execution, expertise, and global network with the technical know-how of Lotusworks, we are establishing a unique platform of commissioning, validation, and technical assurance for mission-critical assets. This comes at a time when AI expansion is spurring a semiconductor manufacturing, and digital infrastructure new and powerful investment cycle.
This acquisition is fully aligned with our LEAP | 28 portfolio priorities. It will contribute to our goal of doubling the rotation of our portfolio within the next 12 months, from the ~10% level we have attained since the launch of the plan. This acquisition accelerates our portfolio pivot towards higher‑growth, higher‑margin activities.
I am very pleased to welcome all the colleagues from Lotusworks to the Bureau Veritas family.”
The transaction, representing an enterprise value of EUR 375 million, will be financed via existing and recently negotiated credit lines. This implies a 2026e EV/EBITA multiple of 15x. The agreement includes an earn-out mechanism should the business outperform its plan.
Following completion, Bureau Veritas’ net debt is set to remain within the 1x to 2x leverage range as per the LEAP | 28 plan ambition. The deal is anticipated to be slightly accretive to earnings this year.
The transaction is expected to close by summer 2026, subject to customary regulatory approvals.
About Bureau Veritas:
Bureau Veritas is a world leader in inspection, certification, and laboratory testing services with a powerful purpose: to shape a world of trust by ensuring responsible progress. With a vision to be the preferred partner for customers’ excellence and sustainability, the company innovates to help them navigate change.
Created in 1828, Bureau Veritas’ 82,000 employees deliver services in 140 countries. The company’s technical experts support customers to address challenges in quality, health and safety, environmental protection, and sustainability.
Bureau Veritas is listed on Euronext Paris and belongs to the CAC 40, CAC 40 ESG, SBF 120 indices and is part of the CAC SBT 1.5° index. Compartment A, ISIN code FR 0006174348, stock symbol: BVI.