Acquisition boosts UL's service in the HVAC, appliance and component segments
In May 2011, UL announced an agreement to acquire Newton-based Springboard Engineering, Inc., a leading performance, ENERGY STAR®, reliability and engineering advisory services company. Upon completion of the transaction, Springboard will become part of UL's Verification Services business.
"This acquisition will enable UL to strengthen and expand our capabilities to serve key customers in the HVAC, Appliances and Components segments and give us a comprehensive suite of services to support global manufacturers," said Sajeev Jesudas, President, UL Verification Services. "Springboard Engineering's experience and capabilities will allow us to increase our safety and performance testing capacity and expand our offerings in key growth markets such as ENERGY STAR® and smart appliances."
Upon completion of the transaction, UL will be better placed to deliver full-breadth of services for HVAC, appliance and component customers, further reinforcing UL's leading position in the fast-growing Energy Star®, smart appliance segments.
As UL and Springboard Engineering have complementary offerings, the acquisition will bring about synergies in deepening the relationships with UL and Springboard Engineering's combined customers. Sharing a strong focus on safety, performance, energy testing and energy services, it is expected that the two companies, through the acquisition, can play a key role in helping customers create safer and more energy efficient products.
Springboard Engineering provides comprehensive product development services that include engineering, prototyping, and testing. The company also has decades of experience in providing customers with highly technical, value added and complementing engineering services at every stage of their production - from ideas to final products - helping customers to gain a foothold in the marketplace.
Springboard Engineering is well experienced working with Fortune 500 companies. It provides a one-stop-shop service, including integrated, contract and consulting engineering design services; cost effective project management services; and assists in the delivery of exciting and innovative consumer products to market.
Springboard Engineering will continue to be headquartered in Newton, Iowa. For more information, please contact Mike Selover.