Exova Group Plc Ipo Prospectus

Exova group plc ipo prospectus

Exova Group plc was a laboratory-based testing company, operating primarily within the Testing segment of the Testing Inspection and Certification (“TIC”) sector.

Exova group plc ipo prospectus

It was listed on the London Stock Exchange until it was acquired by Element Materials Technology Group in June 2017.


The Exova brand was established in 2008, following a carve-out transaction from Bodycote, by funds managed by the private equity company Clayton Dubilier & Rice for £417m in 2008.[2] Exova was subsequently listed on the main London Stock Exchange on 16 April 2014 and entered the FTSE 250 in June 2014.[3] In July 2014 the company acquired Metallurgical Services Private, an Indian testing services firm.[4] In May 2015 Exova also acquired BM TRADA, the international provider of certification schemes and building products testing services.[5]

Element Materials Technology Group announced a bid to acquire the company in April 2017;[6] the transaction completed on 30 June 2017.[7]

It emerged on 1 July 2017 that Exova had produced reports that allowed combustible cladding to be fitted to tall buildings "arguing fires involving combustible aluminium panels would behave similarly to ones with non-combustible ceramic tiles."[8]


Exova is headquartered in Edinburgh, UK.

Exova employs 4,500 people in 121 laboratories in 32 countries worldwide. The Group tests materials, components, products and systems to ensure compliance with safety, performance and quality standards.

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The company specialises in testing across a number of sectors including health sciences, aerospace, transportation, oil and gas, fire and construction.[9]

Exova services include calibration, chemistry and microbiology, corrosion and protection, fire, metal technology, polymers and composites, and structures and systems. Exova operates in different sectors under a number of brands, including:


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Exova group plc ipo prospectus