The world’s top classification societies continue to grow and diversify via acquisition today. French class society, Bureau Veritas (BV) announced the acquisition of offshore loss adjustment and risk assessment firm, MatthewsDaniel Ltd, a 52 year-old company with roots in Houston and offices worldwide.
This new acquisition allows Bureau Veritas to enter the loss adjusting business and strengthen its position in risk assessment, notes BV in an emailed press statement.
“The acquisition of MatthewsDaniel represents a major development for our Marine & Offshore business. It will diversify our services and help us grow our presence in the offshore industry where we provide very high added value services,” commented Didier Michaud-Daniel, Chief Executive Officer of Bureau Veritas.
More than 150 are employed at MatthewsDaniel and in 2013, the company reported revenues of approximately EUR 34M.
BV notes that MatthewsDaniel’s loss adjusting activities include incident investigations, root cause analysis, damage and reinstatement assessment and cost estimation. Their risk assessment portfolio focuses especially on Marine Warranty Surveying activities for both offshore projects and rigs.