Applus+ earmarks EUR450m for acquisition strategy

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Carlyle-owned certification company Applus+ has set aside EUR450m to acquire companies following the strategy laid out in the business plan. The backers plan to increase the firm's presence worldwide and strengthen those sectors in which it is already present. The investors expect to double the company's sales and the EBITDA by 2011 and reach a profit ratio of 18% ahead of the currently reported 15%.

Spanish house Investindustrial has acquired a 5% stake in the company in a deal valued at approximately EUR20m. The transaction was carried out in partnership with Carlos Kinder, owner of GTD Ingenieria de Sistemas y de Software through GTD Invest.

Acquired by Carlyle during the second half of 2007, Barcelona-based Applus+ specialises in inspection, certification and technology services for vehicles. Projections for 2007 turnover are estimated at EUR665m with an EBITDA of EUR113m. When the goals laid out on the business strategy are met, Carlyle is likely to sell the company or take it public.