Your local office
We are looking for the closest office..

X-Ray Industries, N-Ray Services and Arcadia Aerospace have been acquired by Applus+

Southfield – CFI USA ( P&M Corporate Finance LLC) is pleased to announce that it served as the exclusive financial advisor to Integrity Aerospace Group (“IAG” or the “Company”) and other third-party shareholders in a successful sale of  X-Ray Industries, N-Ray Services and Arcadia Aerospace to Applus+. This transaction involved three discrete entities (each with different ownership groups) selling in a single transaction to Applus, a Spanish stock exchange listed group. CFI USA ( P&M Corporate Finance) served as the exclusive investment banking advisor to all three selling parties.

X-Ray Industries, N-Ray Services and Arcadia Aerospace are the premier suppliers of Non Destructive Testing to the aerospace market and gas turbine industry. The companies with 74 years of history have over 200 employees and operate primarily from 7 locations across the USA and Canada and a further 10 co-locations embedded within customer facilities.

Applus+ [ISIN: ES0105022000, Ticker Symbol: APPS] is one of the world’s leading companies in Testing, Inspection and Certification. It provides solutions for customers in all types of industries to ensure that their assets and products meet quality, health & safety, and environmental standards and regulations. In 2014, Applus+ recorded revenue of € 1,62 billion, employs more than 19,000 people and operates in more than 60 countries in five continents.

Following the transaction, X-Ray Industries and N-Ray Services will form part of the Applus+ RTD division and will reinforce the division´s strong presence in the North American market. Arcadia Aerospace will be part of Applus+ Laboratories and will be this division´s first entry into the US market.
This transaction was signed on 3 November 2014 and subsequently awarded “ACG’s All Star Deal Of The Year” in 2015 at the 8th Annual International M&A Awards sponsored by The M&A Advisor


Aerospace & Defence

and other subsidiaries of

have been acquired by

Advised by:

Similar Transactions