SGS sells its powertrain business in the United States
According to the merchandise testing group, the sale is done as part of strategic portfolio simplification.
According to SGS, the sale will go on from October 1st.
Photo: ZVG/SGS
SGS has sold its US engine testing business to private equity firm Columbia River Partners. The sale took place as part of a strategic portfolio adjustment effective October 1, the Goods Testing Group announced on Monday.
According to the announcement, the powertrain testing area includes internal combustion engine services for environmental simulation, powertrain component testing, and additive testing. A car’s powertrain includes all the components that generate power for driving and turning the wheel.
The division employs more than 100 people at seven locations across the United States. SGS estimates the company’s 2022 sales at $27 million. The company did not provide any information about the financial details of the deal in the announcement.
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