ADIA & Mubadala Back £9.3 Billion Intertek Buyout

Two Abu Dhabi sovereign wealth funds are backing one of the UK's biggest take-private transactions of the year, with the Abu Dhabi Investment Authority (ADIA) and Mubadala committing a combined £1.5 billion to EQT's £9.3 billion acquisition of Intertek.

According to a filing, ADIA is investing £1 billion through its investment vehicle for an 18% stake in the deal, while Mubadala is contributing £500 million for an 8% stake.

The acquisition will take UK-based Intertek private, removing another major company from the London Stock Exchange.

Intertek provides testing, inspection and certification services across industries including consumer goods, healthcare, energy and infrastructure, helping companies comply with safety, quality and regulatory standards.

The transaction ranks among the largest UK take-private deals announced this year.

The investment also forms part of a broader wave of acquisitions by Gulf investors. According to EnterpriseAM, entities from the region had announced approximately $47 billion worth of acquisitions by April, more than 120% higher than during the same period last year despite an 8% decline in global M&A activity.

ADIA has also recently joined a €10.7 billion bid to take Italian pharmaceutical company Recordati private and participated in the acquisition of a 7.3% stake in India's Corona Remedies.

Meanwhile, Mubadala is exiting the delivery arm of Turkish technology company Getir following regulatory approval for Uber's acquisition of a controlling stake in the business, a deal accompanied by a $500 million investment commitment from Uber.