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SGS Set to Reinforce Cosmetics Testing Reach with Acquisition of IEC

The major testing, inspecting and certification (TIC) market size will reach $129 billion by 2030.

Swiss testing, inspection and certification company SGS has agreed to acquire France’s Institut d’Expertise Clinique (IEC) to reinforce its worldwide leadership in cosmetics.

Financial terms of the deal were not disclosed.

IEC is a leading cosmetics clinical research organization that operates in advanced clinical testing solutions. Founded in Lyon, France in 1990, it operates in Europe, Asia and Africa, and has an international client base with a current employee headcount of 150.

In Europe, the major testing, inspecting and certification (TIC) companies also include Bureau Veritas, Intertek, Tüv Süd and Eurofins Scientific.

The European Union has a large regulatory framework for many sectors, with rules set forth to ensure security.

Straits Research reportedly projects the European TIC market size – valued at $88 billion in 2021 – to be $129 billion by 2030.

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