Belgium-based Vinçotte International, which offers specialised services like civil engineering, laboratory activities, system and food certification to various industries across the globe, has acquired controlling stake in Mumbai-based non-destructive testing (NDT) services provider Geecy Industrial Services Pvt Ltd.
Financial details of the transaction, however, have not been disclosed.
The partnership will help Vincotte expand its portfolio of activities in India wherein it has been operating through its arm Vincotte India since past two decades, offering certification and inspection services.
Geecy Industrial will now be renamed as 'Geecy Vinçotte' to conduct NDT services.
As part of the partnership, Vinçotte will participate in major investment programmes that will be launched for power plants, railway, oil and gas and other activities in India, the company said in the statement.
“Vinçotte and Geecy share the vision that joining forces will provide both companies with new opportunities and growth potential,” it added.
Founded in 1986, Geecy Industrial offers NDT services and training in various sectors like nuclear, petroleum, fabrication, energy, fertilizer, pipe mills, ammunition, chemical and automotive.
On the other side, Vinçotte offers inspection, testing, certification and training services, providing clients with the solutions they need to guarantee safety, quality and sustainability to themselves and their environment and has developed its advanced NDT techniques worldwide.
The Vinçotte Group has 17 affiliates and branches and employs around 2,500 people worldwide. The turnover of the company amounts to €215 million (about $2.36 million), as per the information available on the company's website.
Corporate Catalyst India Pvt Ltd acted as exclusive advisor to Vinçotte International on this transaction.
