LONDON (Reuters) - Britain's Intertek Group (L:ITRK) said on Wednesday it had agreed to buy U.S. testing company Professional Service Industries (PSI) for $330 million (216 million pounds) to build scale in the construction sector.
Illinois-based PSI, which is majority owned by the private equity firm Olympus Partners, provides testing and assurance services to commercial and civil construction markets, Intertek said.
Intertek, which is funding the deal using existing debt facilities, said buying PSI was expected to boost its earnings per share in the first full year after acquisition.