The deal is still subject to regulatory approval. File Image / Pixabay
European investment firm Fremman Capital is planning to buy a stake in testing company VPS.
Fremman Capital has entered exclusive discussions with IK Investment Partners to buy its stake in the testing firm, VPS said in an emailed statement on Tuesday.
VPS currently employs more than 270 staff worldwide.
"'VPS has an active role in ensuring that the biggest names in global shipping are safe and environmentally sustainable, with plenty more offerings to add in the coming years," Andy Chetwood, director of Fremman Capital, said in the statement.
"Malcolm has done a fantastic job developing VPS into the business it is today, and we are excited to support his vision for the future."