Bureau Veritas has signed an agreement to acquire Lotusworks, a global leader in commissioning and quality assurance and control for mission?critical assets. The deal positions the Buildings & Infrastructure Product Line to capture more of the growing AI?driven construction and data-center investment wave.
Headquartered in Ireland, Lotusworks provides commissioning, quality assurance, quality control, calibration, maintenance, and construction?management services for mission?critical facilities used by semiconductor manufacturers and data-center owners.
The company operates in the United States and Europe, with around 750 employees including highly skilled experts, and serves a diversified roster of blue?chip clients such as hyperscalers and leading chipmakers.
Its business is underpinned by long?term framework agreements, a strong multi?year backlog, and recurring technical services in environments that demand world?class expertise and rigorous execution. In calendar year 2025, Lotusworks generated EUR 131 million in revenue.
The acquisition is expected to boost Bureau Veritas’ organic growth and will be accretive to the Group’s Adjusted Operating Margin. It also marks a key step in rolling out the LEAP?|?28 strategy, strengthening Bureau Veritas’ leadership in the Buildings and Infrastructure sector.
Combined with the Group’s existing data?center activities, the addition of Lotusworks creates a new mission?critical platform that is unique in the TIC industry, making Bureau Veritas a leader in the high?growth, technically complex markets of data centers and semiconductor manufacturing. At closing, this platform is expected to represent about 15% of the Buildings & Infrastructure division.
The transaction has an enterprise value of EUR 375 million and will be funded through existing and recently arranged credit facilities, implying a 2026e EV/EBITDA multiple of 15x. The agreement includes an earn?out mechanism if the business exceeds its financial plan.
After completion, Bureau Veritas’ net debt is expected to stay within the 1x to 2x leverage range, in line with the LEAP?|?28 target. The deal is anticipated to be slightly accretive to earnings already this year. Closing is expected by summer 2026, subject to customary regulatory approvals.
Leadership Comment
“The acquisition of Lotusworks is a major milestone for Bureau Veritas.” said Hinda Gharbi, Chief Executive Officer of Bureau Veritas. “The company brings outstanding technical capabilities, long?standing customer relationships, and a strong presence across strategic markets of data centers and semiconductors manufacturing. By combining Bureau Veritas’ rigorous execution, expertise, and global network with the technical know-how of Lotusworks, we are establishing a unique platform of commissioning, validation, and technical assurance for mission-critical assets. This comes at a time when AI expansion is spurring a semiconductor manufacturing, and digital infrastructure new and powerful investment cycle.
This acquisition is fully aligned with our LEAP?|?28 portfolio priorities. It will contribute to our goal of doubling the rotation of our portfolio within the next 12 months, from the ~10% level we have attained since the launch of the plan. This acquisition accelerates our portfolio pivot towards higher?growth, higher?margin activities.
I am very pleased to welcome all the colleagues from Lotusworks to the Bureau Veritas family.”
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