PR90685

NORTHBROOK, Ill., July 21, 2021 /PRNewswire=KYODO JBN/ --

- The acquisition deepens UL's automotive and medical device sector safety and

security expertise.

UL, the global safety science leader, today announced its acquisition of

German-based Method Park, a company specializing in process engineering,

software solutions, training and advisory services focusing on the safety

critical aspects of the automotive, medical and aerospace industries. The deal

fortifies UL's expertise to help customers advance innovation safety, business

transformation, and regulatory and standards compliance.

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"With accelerating technology in safety critical industries, such as automotive

and medical devices, the introduction of innovative technologies that provide

enhanced convenience also presents new challenges," said Jennifer Scanlon,

president and CEO, UL Inc. "Helping ensure their safe and secure deployment

will be key in how quickly these innovations are adopted. The Method Park

acquisition will build upon on UL's science-based core expertise in testing,

inspection and certification and help address the safety risks of exciting

innovative technologies. Together, we will empower our customers with the

ability to embrace new opportunities."

Specializing in complex process-based product engineering, Method Park's

portfolio includes advisory services, a digital compliance software solution, a

comprehensive training portfolio and software solutions for multiple

industries. Founded in 2001, the company has also provided insight to customers

on process optimization and quality assurance management.

"By offering a differentiated customer experience, unmatched thought leadership

and solutions, and a best-in-class knowledge platform, UL works to be the

global market acceptance and risk mitigation partner of choice for our

customers," said Weifang Zhou, UL’s executive vice president and president of

Testing, Inspection and Certification. "The Method Park team strategically

aligns with that approach and will help us deliver on serving as our customers'

most trusted science, security and sustainability partner."

Headquartered in the Bavarian city of Erlangen, Method Park has offices

throughout Germany, including Berlin, Frankfurt, Hamburg, Munich and Stuttgart,

with additional facilities in Detroit, Miami, Pittsburgh and Shanghai. With the

acquisition, Method Park's more than 200 employees will join UL to focus on

innovative solutions to complex safety and security issues affecting multiple

industries.

"We are excited to join forces with UL," said Professor Bernd Hindel, founder

and CEO of Method Park. "As a combined team, we will offer our customers

best-in-class services that will help them get to market faster and more

efficiently. Our group's shared reputation will allow us to significantly

accelerate customer access to a broader range of complementary solutions and

expertise, extend services across global markets and help deliver on the

promise for a safer and more secure world.''

The transaction closed on July 20. Terms of the acquisition were not

disclosed.  

About UL

UL is the global safety science leader. We deliver testing, inspection and

certification (TIC), training and advisory services, risk management solutions

and essential business insights to help our customers, based in more than 100

countries, achieve their safety, security and sustainability goals. Our deep

knowledge of products and intelligence across supply chains make us the partner

of choice for customers with complex challenges. Discover more at UL.com (

https://c212.net/c/link/?t=0&l=en&o=3230180-1&h=3674671908&u=https%3A%2F%2Fwww.ul.com%2F&a=UL.com

).

For information about Standards development and other nonprofit activities,

visit UL.org (

https://c212.net/c/link/?t=0&l=en&o=3230180-1&h=1814964930&u=https%3A%2F%2Ful.org%2F&a=UL.org

).

Press contact:

Steven Brewster

UL

ULNews@UL.com

1+847.664.8425

SOURCE  UL