# Temasek to acquire Bridgepoint’s UK-based testing firm for $7 billion -sources
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2022-01-24
Category: BUSINESS
Category URL: https://financedigest.com/category/business
Meta Title: Singapore's Temasek Holdings to buy Element Materials
Meta Description: Find out how Temasek Holdings' purchase of Element Materials Technology for $7 billion will boost growth and make a significant impact in the testing and
URL: https://financedigest.com/temasek-to-acquire-bridgepoints-uk-based-testing-firm-for-7-billion-sourceshtml

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By Anshuman Daga

SINGAPORE (Reuters) -Singapore’s Temasek Holdings has agreed to buy Element Materials Technology for about $7 billion, as it sees an opportunity to boost growth at the testing and inspection services provider, two sources familiar with the matter said.

State investor Temasek, which acquired a significant minority stake in Element in 2019, is buying the company from London-listed buyout firm Bridgepoint Group and an announcement could be made as early as Monday, one of the sources said.

The buyout will be one of the [biggest ever](https://www.financedigest.com/the-biggest-ever-shake-up-of-insurance-law-is-finally-here-wellalmost.html "The biggest ever shake up of insurance law is finally here! Well…Almost.") deals by Temasek and a rare controlling-stake transaction by the investor, which reported a 25% rise in its portfolio value to a record S$381 billion ($283 billion) in the year ended March 2021.

The [sources declined to be identified as details of the deal](https://www.financedigest.com/indias-carmakers-back-zero-duty-on-limited-british-imports-under-trade-deal-sources.html "India’s carmakers back zero duty on limited British imports under trade deal – sources") have not been made public.

Temasek declined to comment, while there was no immediate response from Bridgepoint and Element Materials to a Reuters query sent outside regular [business hours](https://www.financedigest.com/survey-shows-10-of-small-business-owners-get-less-than-4-hours-sleep-every-night-worrying-about-business-risks.html "Survey shows 10% of small business owners get less than 4 hours sleep every night, worrying about business risks").

Bridgepoint [acquired Element from British](https://www.financedigest.com/hsbc-acquires-british-arm-of-stricken-silicon-valley-bank.html "HSBC acquires British arm of stricken Silicon Valley Bank") buyout group 3i for an undisclosed sum in December 2015.

Element is one of the [world’s leading global](https://www.financedigest.com/world-bank-warns-global-economy-could-easily-tip-into-recession-in-2023.html "World Bank warns global economy could easily tip into recession in 2023") providers of testing, inspection and certification services for a diverse range of products and technologies. It caters to clients in aerospace, industrial, energy, [technology and other sectors](https://www.financedigest.com/how-video-technology-continues-to-boom-in-the-education-sector.html "How video technology continues to boom in the education sector").

Element’s 7,000 scientists, engineers and technologists [work in its global](https://www.financedigest.com/managing-flexible-working-on-a-global-scale.html "Managing flexible working on a global scale") network of more than 200 laboratories.

Earlier on Monday, [Bloomberg reported news of the deal](https://www.financedigest.com/citi-halted-financing-for-trafiguras-nickel-deals-in-october-bloomberg.html "Citi halted financing for Trafigura’s nickel deals in October – Bloomberg").

($1 = 1.3445 Singapore dollars)

(Additional reporting by Nishit Jogi in Bengaluru; Editing by Christian Schmollinger and Kenneth Maxwell)


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