Bureau Veritas Invests 375 Million Euros in Lotusworks to Expand into Data Centers
Bureau Veritas has announced the acquisition of Lotusworks, an Irish specialist in the commissioning of critical assets for data centers and semiconductor manufacturers. The deal, valued at 375 million euros, is expected to be finalized by the summer of 2026.
Strategic Acquisition
Bureau Veritas has signed an agreement to acquire Lotusworks, a global leader in commissioning, assurance, and quality control for critical infrastructures. Based in Ireland, the company has 750 employees across the United States and Europe, serving a global clientele that includes major hyperscalers and semiconductor manufacturers. Lotusworks generated revenue of 131 million euros in the 2025 fiscal year. The transaction, representing an enterprise value of 375 million euros, reflects an estimated EV/EBITA multiple of 15x for 2026.
Impact on Bureau Veritas
Once completed, this acquisition will create a new platform dedicated to critical assets, accounting for about 15% of Bureau Veritas' Building & Infrastructure division. The group emphasizes that the transaction will enhance its organic growth profile and will be accretive to the adjusted operating margin. The acquisition is part of the LEAP | 28 plan and is expected to be slightly accretive to earnings from 2026. Bureau Veritas will finance the transaction through existing and recently negotiated credit lines, while net debt is expected to remain within a leverage range of 1x to 2x.
Regulatory Approvals and Earn-out Mechanism
The agreement includes an earn-out mechanism that conditions additional payments on performance exceeding the business plan. The transaction remains subject to customary regulatory approvals and is expected to be finalized by the summer of 2026.
