Private equity firms TDR Capital and I Squared Capital, offered to acquire Applus Services, an industrial testing company, in a $1.77bn deal. "TDR focuses on investing our capital and know-how in businesses with long-term secular growth opportunities like Applus. We see an opportunity to accelerate Applus's development as a global leader in the TIC industry with strong positions across its highly attractive segments. This is an excellent outcome for the public market investors who backed Applus. We now believe that the business should be better for all stakeholders without the constraints and short-term focus imposed by the public market," Gary Lindsay, TDR Capital Managing Partner.