China Based JSTI Group Finalizes Transaction to Acquire TestAmerica
TestAmerica, the leader in environmental testing, has concluded the previously announced transaction with Nanjing, China based JSTI Group, a global transportation systems design and environmental monitoring firm. Executives of both firms have described the transaction as a synergistic combination of diversified testing and environmental solutions leaders resulting in the first ever unified east-west response to the world’s vast and growing environmental stewardship testing challenges. A definitive agreement was executed on June 1, 2016 and JSTI’s acquisition of TestAmerica’s parent company was finalized on September 23, 2016 after all requisite approvals were obtained. The completed transaction creates no change in legal status for TestAmerica going forward. The change in ownership structure is at the parent organization level where JSTI replaces our former private equity owners as shareholders in the parent holding company, TestAmerica Environmental Services, LLC. All operating companies including TestAmerica Laboratories remain unchanged, incorporated in Delaware with the same tax identification and corporate legal status as prior to the transaction
JSTI CEO Mr. Junhua Wang said, “JSTI is very excited to begin its work with TestAmerica today. TestAmerica embraces an industry leading model, for integrated and standardized laboratories and their plan has been successful and effective in the United States. JSTI will help TestAmerica grow its industry leading testing business in the USA. JSTI will work with TestAmerica to transport their special processes and services to key International markets with growing demand. A huge environmental services market is now visible in Asia. JSTI and TestAmerica will be leaders in helping to provide environmental measurement solutions in the Pacific Rim and other international markets. We look forward to bringing TestAmerica’s industry leading environmental testing systems specifically to China to help address the environmental and health challenges our country faces in the coming decades.”
TestAmerica CEO Rachel Brydon Jannetta said, “Today is a milestone in the history of the environmental testing business. Today we begin to work directly with JSTI to more aggressively expand our business model globally, and we will continue to seek ways to constantly add more value to our USA based clients, many of whom have been asking us for years to help them beyond North America. I personally couldn’t be more excited about our new partner JSTI, who understands our broad market and recognizes the need to address the world’s most significant environmental testing challenges.”
JSTI Chairman Mr. Guanhua (Mark) Fu also reflected on the merger, “JSTI needs TestAmerica.
JSTI needs the TestAmerica systems and technology to serve our people. We will combine the
TestAmerica technology with JSTI technology and apply to the world’s great needs for environmental inspection solutions.”
JSTI Group is traded on the Shenzhen Stock Exchange and has a current market capitalization of over $1.5 billion. JSTI provides a broad range of transportation testing and support services, including sophisticated monitoring and testing services for highways, bridges, airports and urban mass transit. JSTI is ranked #98 on the ENR List of Top 150 Global Design Firms, with 2015 revenues in excess of U.S. $400 million. The company employs over 3,800 people in China.
The terms of the deal were not disclosed. For more information, contact Jim Miller, SVP, at
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