Temasek Holdings seeks to acquire controlling stake in Element Materials Technology for around $7 billion

Singapore’s Temasek Holdings has agreed to acquire Element Materials Technology for around $7 billion, in an attempt to boost growth in the testing and inspection services market, said two sources familiar with the matter at hand.

State investor Temasek, which acquired a significant minority stake in Element in 2019, is buying the company from London-listed buyout firm Bridgepoint Group. A formal announcement could be made later this week, said one of the sources.

The potential deal will be one of the biggest ever by Temasek and is likely to see it take a controlling-stake.

In the year ended March 2021, it reported a 25% rise in its portfolio value to a record $283 billion (S$381 billion).

Sources preferred the cover of anonymity since the details of the deal have yet to be made public.

Temasek declined comment.

Bridgepoint acquired Element from British buyout group 3i for an undisclosed sum in December 2015.

Element is one of the world’s leading global providers of testing, inspection and certification services for a diverse range of products and technologies. It caters to clients in aerospace, industrial, energy, technology and other sectors.

Element employs 7,000 scientists, engineers and technologists work in its global network of more than 200 laboratories.

($1 = 1.3445 Singapore dollars)

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