The dream destination
BHP Corporate Finance are delighted to have acted as lead advisor to Check Safety First Limited (“CSF”), a leading global hospitality assurance business, on its significant acquisition by Intertek Group plc, the FTSE100 Total Quality Assurance specialist, headquartered in London.
Founded in 2003, CSF is a market leader in hospitality assurance and operates across 24 countries worldwide including tourist destinations in the Middle East, North Africa, Caribbean and Spain.
A trusted partner to major hoteliers and tour operators, CSF enables its customers to meet industry-specific standards through its Cristal and Checkpoint branded audit and software solutions by mitigating health, safety, quality and security risks. Operating in a fast-growing industry, the need for bespoke, innovative assurance solutions has grown quickly due to a rising awareness of industry related risks faced by hoteliers, tour operators and consumers.
CSF Chairman & CEO, Steve Tate, will be staying with the business to continue to lead the management team. Tate commented, “This is a significant milestone for Check Safety First Limited. Joining the Intertek Group allows CSF to accelerate growth to meet the demands in the expanding travel market, these are really exciting times’
Tate further added: “The shareholders of CSF are extremely grateful to BHP for the role they played in delivering this transaction. They oversaw a global marketing process that helped to secure a very favourable outcome for both the shareholders and the business. BHP were there with us at every step of the process; their professional advice and support throughout was invaluable and I wouldn’t hesitate to recommend them’
BHPCF ran a highly competitive, global marketing process, engaging with some of the worlds leading multinational companies. Andy Haigh and Tim Brind led the multi-disciplinary team from BHP.
Andy commented: “We are delighted to have delivered this significant transaction for CSF and its shareholders. CSF is a market leader in an attractive, growing sector, using data to enhance the offering to its clients. It is a truly multinational business and we are very pleased to have delivered a successful outcome after undertaking a thorough, global marketing process. Intertek is a fantastic home for the company and I’m sure CSF will continue to go from strength to strength under the continued leadership of Steve Tate.”
The completion of the sale of CSF marked the end of a very successful 2019 for BHP Corporate Finance. The market for M&A transactions remains strong and we have a number of other transactions in the pipeline that we look forward to bringing news of.