Cortec Group has sold Vidaris to Socotec, a portfolio company of Cobepa
Vidaris* is a leading multi-disciplinary specialty consultancy focused on highly technical, value added assurance, advisory and dispute resolution services related to existing and new buildings, civil and utility infrastructure, industrial and energy facilities, transportation equipment and other high value assets. The company serves as an independent third-party advisor for leading developers, property owners, industrial operators, utilities, architects and engineers. Vidaris’ integrated portfolio of services helps clients optimize performance, mitigate risk, ensure compliance, determine fitness-for-service and/or root cause of failure, as well as resolve disputes. Headquartered in New York, NY, the company employs approximately 300 professionals in 16 offices across the U.S. and Australia.
SOCOTEC Group, a leading European provider of test, inspection and certification (TIC) services, headquartered in France, acquired Vidaris to build its North American platform. SOCOTEC is controlled by affiliates of Cobepa, a European private investment company.
“Vidaris aligns well with SOCOTEC’s strategy of partnering with teams of high value‐added services to accelerate our organic- and acquisition-driven growth. We are very excited about this merger as it is another step in our strategy to build the leading international TIC firm in construction, building envelope and infrastructure, with Vidaris being a monumental steppingstone within the U.S.,” said Hervé Montjotin, Chief Executive Officer of SOCOTEC. “The acquisition broadens the capabilities of SOCOTEC to include consulting, architectural assistance and dispute resolution, services not previously offered, as well as heightens opportunities for cross-selling.”
Marc Weissbach, Vidaris’ Chief Executive Officer, commented, “Lincoln’s strong relationships and deep understanding of the TIC, engineering and consulting sectors enabled us to convey Vidaris’ scarcity value and compelling value proposition. We are excited to partner with SOCOTEC and continue delivering the highest quality of technical expertise our clients rely upon to an expanded geographic realm.”
Lincoln acted as financial advisor to Cortec Group and Vidaris, working closely with its shareholders and management team throughout the sale process. This included providing advisory expertise and managing the preparatory, marketing, negotiation and due diligence phases of the transaction.
*Vidaris stands for the parent company of Vidaris, which is named ArchEng. ArchEng, which is the parent company of Vidaris, LPI, CBI, C2G and Synergen, has been acquired by SOCOTEC.
Lincoln’s industry expertise and tremendous execution created a highly efficient process, resulting in an outstanding outcome for Vidaris’ shareholders and management team. Lincoln’s hands-on, senior driven team was critical to managing global acquirers and securing an exceptional long-term partner for Vidaris.
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