Imtech strengthens Swedish position with two regional acquisitions
(Thomson Reuters ONE) -
Gouda - Royal Imtech N.V. (IM-AE, technical services provider in and outside
Europe) announces it has strengthened its position in Sweden with two regional
acquisitions: VVS Montage i Dalarna AB in the Swedish Borlänge-Ludvika-Falun
region, and Fagersta Industri EL AB in the Fagersta region, both situated above
Västerås in the southern central area of Sweden. Total annual revenue of both
acquisitions is around 5 million euro, with a total of 40 technical specialists.
The acquisition price is approximately five times the EBITA and is being paid in
cash. Both acquisitions will directly contribute to the earnings per share.
René van der Bruggen, CEO Imtech: 'We are strengthening our regional positions
in Sweden with these high-yielding acquisitions. Collaboration with regional
Imtech Nordic branches enables further growth, particularly in terms in
technical management and maintenance. The acquisitions are a perfect fit within
Imtech Nordic's growth strategy.'
Profile of VVS Montage i Dalarna AB
VVS Montage i Dalarna is a mechanical specialist, established in 1989 and based
in Borlänge, the centre of the Borlänge-Ludvika-Falun mining region. It also has
activities in Stockholm, where the company has a branch office. Around 40% of
the revenues relate to specialised industrial activities, including industrial
piping in complex technical infrastructures for industrial clients such as
Outokumpu Stainless and ABB. Around 40% of the revenues stem from activities in
the buildings market, including care & cure. Clients in this segment include
hospitals, the regional authorities and in Stockholm, builders like Skanska and
Veidekke. Most of the revenue is based on activities for end-clients/direct
decision-makers. Imtech Nordic (the NVS business unit) and VVS Montage i Dalarna
are well-acquainted with each other and work together on the technical
infrastructure for a new hospital in Falun, for example. Integration of VVS
Montage i Dalarna strengthens the position in this region considerably.
Cooperation will lead to further growth, also because Imtech can service
existing VVS Montage i Dalarna clients from a much wider service portfolio,
particularly in terms of technical maintenance and management.
Profile of Fagersta Industri EL AB
Fagersta Industri EL (FIEL) is an electrotechnical specialist, founded in 1975
and operating mainly in the regional industrial market of Fagersta and environs.
Among other things, activities encompass medium and low-voltage services,
telecommunications, alarms, data transmission, monitoring and control. The
company works on a project and direction basis for industrial clients such as
Uponor, Seco Tools, Atlas Copco, Componenta and Solar, but also has long-term
framework agreements with the regional government. Imtech Nordic (the NEA
business unit) has little activity in this region, but does in fact occupy a
strong market position in the adjacent regions. Integration will lead to a very
strong and broad regional position, from which clients can be offered a complete
and overall electrotechnical service package, including technical maintenance
and management, an activity in which FIEL is not active. There will also be
active market operations in nearby places such as Skinnskatteberg, Norberg and
Smedjebacken, which are currently (too) far away from the branches. This will
lead to further growth.
Multidisciplinary collaboration leads to extra growth
Imtech's strong position in the Nordic region (Sweden, Norway and Finland) arose
through the acquisition of NVS (mechanical services) in 2008, NEA (electrical
services) in 2010 and Sydtotal (energy and mechanical services) in 2011,
together with a handful of smaller supplementary acquisitions. Imtech wishes to
grow substantially in the Nordic region, in line with its 2015 growth strategy.
To this end NVS, NEA and Sydtotal will be combined into a strong
multidisciplinary services provider called Imtech Nordic. Cross-selling to the
more than 2,000 clients will lead to extra growth, a process whose first steps
have already been taken with success. The new regional acquisitions will also be
involved in this process over time.
More information
Media: Analysts & Investors:
Pieter Koenders Jeroen Leenaers
Director Corporate Communications Manager Investor Relations
T: +31 655 74 65 85 T: +31 182 54 35 04
E: pieter.koenders(at)imtech.eu E: jeroen.leenaers(at)imtech.eu
www.imtech.eu www.imtech.eu
Imtech profile
Imtech N.V. is a European technical services provider in the fields of
electrical solutions, ICT (information and communication technology) and
mechanical solutions. With 28,600 employees, Imtech achieves annual revenue of
more than 5.1 billion euro. Imtech holds strong positions in the buildings and
industry markets in the Netherlands, Belgium, Luxembourg, Germany, Austria,
Eastern Europe, Sweden, Norway, Finland, the UK, Ireland and Spain, the European
markets of ICT and Traffic as well as in the global marine market. In total
Imtech serves 23,000 customers. Imtech offers added value with integrated and
multidisciplinary total solutions that lead to better business processes and
more efficiency for customers and the customers they, in their turn, serve.
Imtech also offers solutions that contribute towards a sustainable society, for
example in the areas of energy, the environment, water and mobility. Imtech
shares are listed on the NYSE Euronext Amsterdam, where Imtech is included in
the Midkap Index. Imtech shares are also included in the Dow Jones STOXX 600
index. In 2011 Imtech has been granted the designation Royal.
pdf version of press release:
http://hugin.info/130755/R/1602394/506309.pdf
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Source: Imtech N.V. via Thomson Reuters ONE
[HUG#1602394]
Unternehmensinformation / Kurzprofil:
Datum: 16.04.2012 - 07:30 Uhr
Sprache: Deutsch
News-ID 134977
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