Applus+ Group Governance

​20 December 2024 – Applus Services S.A. (“Applus+”), one of the world's leading testing, inspection and certification (TIC) companies, is pleased to announce the appointment of Mike Smith as Chairman of the Applus+ Group, effective immediately. 

Mike joins the Board following the successful completion of the majority acquisition and de-listing of Applus+ by Amber EquityCo S.L.U. (“Amber”), a vehicle formed and jointly controlled by funds managed by TDR Capital LLP (“TDR”) and investment funds advised by I Squared Capital (“I Squared”).

Mike has a strong track record of leading international organisations through transformational change. Previously he was Chairman of Modulaire Group, heading up its sale to Brookfield in 2021 for €4.3 billion. Prior to this, he was Chairman of International Car Wash Group (ICWG), overseeing the successful exit of ICWG by TDR Capital to Roark Capital in 2017. 

Mike takes on his responsibilities as Chairman of Applus+ in addition to his role on the Board of Aggreko, a global leader in mobile and modular energy solutions, which he joined in October 2021. Over the last three years as Chairman of Aggreko, Mike has driven a strategic repositioning of the business that has delivered significant growth in core markets, streamlined the operating footprint of the company while completing seven complimentary bolt-on acquisitions. Aggreko is now well-positioned to capitalise on the macro trends driving energy demand.

TDR and I Squared both have deep experience investing in the broader business services sector. Applus+ was identified as a compelling opportunity given its globally diversified customer base and attractive underlying end-market exposure.

Mike Smith, Chairman of Applus+, said: “It is an exciting time to be joining the Applus+ Board. Despite already being a global leader in TIC with operations in over 70 countries, there is huge potential for further growth as demand for Applus+’ services, ranging from services provided to the power & energy ecosystem, environmental services, as well as continued need for services and inspections for the industrial and automotive sectors globally. I’m looking forward to working closely with the Applus+ team and our partners as we keep developing innovative solutions that meet the changing needs of our clients around the world.” 

Mohamed El Gazzar, Senior Partner, I Squared Capital, said: “There is a significant opportunity to accelerate Applus+' development as a global leader in the TIC industry. Applus+ has a strong position across highly attractive segments and the backing of I Squared and TDR will provide it with the capital and sector expertise to maximize this opportunity. We are delighted that Mike will be leading the board of Applus+, he has a proven track record for generating value and we are confident he will help us deliver on our shared vision for the business.”

Gary Lindsay, Managing Partner, TDR Capital LLP, said: “Mike has a stellar track record in driving transformational change and growth in businesses and we are looking forward to working with him again to enhance Applus+’ position as a world-leading industrial testing, inspection and certification company. It is a business that we have high conviction in within an industry that has attractive fundamentals and a high degree of resilience, particularly in the context of increasing regulatory requirements and the trend for outsourcing.” 

Mike succeeds Chris Cole, who has resigned from the Applus+ Board. Cole had been Chairman since 2014, overseeing Applus+’ journey to becoming one of the world’s most successful industrial TIC companies, developing a market-leading platform at global scale. 

Alexander Metelkin is a Managing Director of I Squared Capital, focused on investments in Europe. He currently sits on the strategic board of two companies: Cube Cold Europe, a pan-European cold storage platform focusing on acquiring and developing small to medium sized cold storage facilities across strategic areas such as ports and logistics hubs; and Arriva, a public transport operator in Europe, operating bus and rail services in 11 countries. Alexander is also an observer on the strategic board of Domidep.

Prior to joining I Squared Capital in 2018, Alexander spent six years at First Reserve Corporation, a leading global private equity firm focusing on investments in industrial equipment manufacturers and service providers primarily across Europe, where he served as a Vice President in the investment team. Before that, he spent four years working in a variety of sub-sectors at Morgan Stanley’s Natural Resources Investment Banking division, where he was promoted to Associate.

Alexander is a graduate of The London School of Economics and Political Science (LSE) and Bauman Moscow State Technical University, where he received an MSc in Finance and Economics and an MSc in Management respectively.

Linda Zhang is a Managing Director at and part of TDR Capital's investment team.

Prior to joining TDR in 2022, Linda was a Director in Lone Star Funds' investment team, responsible for sourcing and executing control investments across Europe. Before that, she spent six years working at Citigroup' investment banking division in London.

Linda holds a master's degree in finance from the London Business School and a bachelor's degree in Economics from the London School of Economics.

Mr. Amigó was appointed as Chief Executive Officer of the Applus Group with effect from 28th June 2022. He was previously the Group Chief Financial Officer since 2007, joining the Group Board of Directors in 2019.

He has a solid career in managerial and financial positions with strong strategic and leadership roles. As Chief Financial Officer he led the Financial, Tax, IT, IR, and Purchasing functions. With his thorough financial background, his proven leadership abilities and deep knowledge of the testing industry and Applus+, he is leading Applus+ successfully onto the next stage of its journey. Mr. Amigo was a key architect of the Strategic Plan presented to the market in November 2021, has been instrumental in ensuring its execution since then and is committed to delivering it.

He holds a degree in Economics from the Autonomous University of Barcelona, a Management Development Programme from IESE (Barcelona) and an Advanced Management Programme from ESADE (Barcelona and Wharton-Pennsylvania).

He started his career at PricewaterhouseCoopers in 1991 as an external auditor. In 1994, he joined Bimbo (Sara Lee), a consumer goods company based in Spain and Portugal, where he held various senior positions: Vice President and Chief Financial Officer, Financial Shared Services Director, Controller and Internal Audit Director. In 2006, he was appointed Vice President for Financial Planning and Control at Sara Lee Bakery’s Europe Division.

Mr Amigo was appointed as the CEO following the retirement of Fernando Basabe after eleven years at the Group.