UPDATE 1-Carlyle arm offers to buy Velosi for 87.8 mln stg

* Offers 165p/shr; 61 pct premium to Velosi’s Wed close

* Has recommendation of more than half Velosi investors

* Velosi shares up 57.4 pct
(Adds details)

Dec 9 (BestGrowthStock) – Private equity firm Carlyle Group’s
[CYL.UL] unit agreed to buy British testing and inspection
company Velosi (VELO.L: ) for about 87.8 million pounds ($138.9
million), providing Velosi with enough financial support to
enter new markets.

Shareholders of Velosi, a provider of quality control
services to oil and gas firms, will get 165 pence per share in
cash, a 61 percent premium to Velosi’s Wednesday close.

Carlyle, which may file papers to go public late next year,
said it has the recommendation of about 53.2 percent of Velosi
shareholders.

Carlyle’s Applus Technologies, which services energy
industry clients in Europe and South America, might restructure
Velosi and make it a unit after the deal closes.

Velosi, which operates in 39 countries, has clients such as
BP (BP.L: ) (BP.N: ), Exxon Mobil (XOM.N: ) and Royal Dutch Shell
(RDSa.L: ).

In the first half to Sept. 21, Velosi’s pretax profit fell
slightly and it said it expected to get fewer high-margin
inspection contracts. [ID:nSGE68K0AS]

Velosi shares, which have lost 16 percent of their value
since the company posted first-half results, were up 57.4
percent at 161 pence at 0855 GMT on Thursday on the London
Stock Exchange.
($1=.6321 Pound)
(Reporting by Aditi Samajpati in Bangalore; Editing by Anne
Pallivathuckal)

UPDATE 1-Carlyle arm offers to buy Velosi for 87.8 mln stg