Citi Capital Strategies Advises H.P. White Laboratory, Inc. on its Acquisition by Intertek

NEW YORK--(BUSINESS WIRE)--Intertek Group plc, a leading provider of quality and safety solutions to a wide range of industries, has acquired Maryland-based H.P. White Laboratory, Inc., an industry-leading provider of highly specialized ballistic testing services for a wide range of defense, homeland security, and commercial applications. Products and equipment tested by H.P. White include personal and vehicular armor, explosive containment devices, ordnance materials, and security related building components.

Citi Capital Strategies, a division of Citigroup Global Markets Inc. and a leading investment bank serving privately held businesses, served as the exclusive financial advisor to H.P. White Laboratory, Inc. The terms of the transaction were not disclosed.

“We are pleased to team H.P. White with Intertek, a quality buyer that has the global reach and complementary testing capabilities to capitalize on H.P. White’s strong position in the field of ballistics and protective armor testing,” said Eric Williams, Managing Director at Citi Capital Strategies. "As a global leader in testing, inspection and certification, Intertek provides us with the financial resources and expertise to meet the evolving needs of our defense and commercial clients," said Eric Dunn, Vice President of Special Operations at H.P. White. “A partnership with Intertek opens new doors for both our employees and our clients and provides us with the ability to grow our business in new directions.”

Demand for the testing of defense and homeland security related products is being fueled by continued advancements in armor materials and technologies, government and OEM outsourcing trends, and homeland security initiatives as well as more extensive testing required under the new and more expansive National Institute of Justice body armor standard.

Mr. Darrell Lehman, Director of Global Business Development at Intertek, stated “H.P. White has an unmatched reputation for integrity and technical expertise in the fields of ballistics, armor, ammunition, and ordnance materials and has garnered a sterling international reputation and an impressive customer base consisting of a multitude of federal, state, and municipal agencies, and leading defense firms. The acquisition aligns with our growth strategy to expand our testing capabilities into other highly attractive segments of the personal protective market. Clearly, H.P. White is a premier provider of ballistic testing services and is well positioned for future growth. We look forward to working with the H.P. White management team to expand the Company’s specialized in-house testing capabilities as well as its presence both domestically and internationally.”

Citi Capital Strategies is a leading investment bank dedicated to serving the needs of middle market businesses. Citi Capital Strategies specializes in mergers, acquisitions, recapitalizations, ESOPs, corporate real estate investment banking services, and capital solutions for private businesses. Citi Capital Strategies is a division of Citigroup Global Markets Inc. Member SIPC. For more information, visit our website at www.citicapitalstrategies.com

H.P. White specializes in providing sophisticated testing services for a wide range of defense, homeland security, and commercial applications. Products and equipment tested by the company include the following: personal and vehicular armor, explosive containment devices, ordnance materials, and security related building components.

About Intertek

Intertek is a leading provider of quality and safety solutions serving a wide range of industries around the world. From auditing and inspection, to testing, quality assurance and certification, Intertek people are dedicated to adding value to customers' products and processes, supporting their success in the global marketplace. Intertek has the expertise, resources and global reach to support its customers through its network of more than 1,000 laboratories and offices and over 23,000 people in 110 countries around the world.

The Commercial & Electrical division of Intertek provides testing and certification services, including product safety testing and certification, electromagnetic compatibility (EMC) testing, performance testing, and management systems certification. These services provide global market access to customers in industries such as life safety and security, personal protective equipment, cables and wiring accessories, electronics, household appliances, IT, industrial machinery, medical devices, telecommunications, and wireless technology. Visit www.intertek-etlsemko.com for further information or call 1.800.WORLDLAB.

Citi Global Wealth Management
Mark Costiglio, 212-559-2178
Media Relations
mark.costiglio@citi.com