Imtech: again position strengthening in the UK through Smith Group acquisition
(Thomson Reuters ONE) -
Gouda - Imtech N.V. (technical services provider in Europe) is announcing its
acquisition of the British technical services provider Smith Group UK Limited.
Through the combination of its technical core competences - electrical services
and mechanical services (energy and climate technology) - Smith Group UK Ltd
specialises in providing multidisciplinary technical services. With over 270
permanent employees, Smith Group UK Ltd realises over 70 million euro in revenue
annually. The acquisition price amounts to five time EBITA, including earn out,
and will be paid in cash. The acquisition will directly contribute to the
earnings per share and will enable Imtech to significantly strengthen its
position in the UK. Recently, Imtech also acquired the British technical
maintenance specialist Inviron.
René van der Bruggen, CEO Imtech: 'In our strategic plan for 2015, Imtech is
targeting a revenue level of 8 billion euro. To achieve this, Imtech will among
others strengthen its existing positions in Europe, including in the UK. Very
recently, we acquired the technical maintenance specialist Inviron, and now we
have acquired the multidisciplinary technical services provider Smith Group UK
Ltd. Smith Group UK Ltd is a rapidly growing outperformer in the UK with a
strong geographical focus in the north-west of the UK, a region in which Imtech
has a very limited presence. Smith Group UK Ltd can thus help us to reinforce
our position in the UK. Given the market position we have built up, the scale of
our activities in the UK and Smith Group UK Ltd's track record, we expect
further growth in the future.'
Smith Group profile
Smith Group UK Ltd is a family business set up and ran by real entrepreneurs.
The Smith family started the business in 1958, and its activities have expanded
considerably, particularly in recent years. The company specialises in the
combination of electrical and mechanical services in the education, financial,
retail, entertainment, commercial buildings, industrial and care & cure market
sectors. Its head office is in Lancashire, not far from Manchester in the north-
west of the UK. The company also has branches in Preston and London. Around 75%
of its activities consist of new build technology projects while 25% comprise
technical maintenance and management (contracts for planned, proactive and
reactive maintenance). The company has specific certified competences related to
energy (energy efficiency, sustainable energy, and carbon footprint reduction),
fire prevention, security and air conditioning.
Smith Group UK Ltd has a strong customer focus and generally operates both as a
technology partner direct for customers and in a building team relationship with
organisations like Willmott Dixon, Lend Lease and Carillion. These one-to-one
relationships result in a strong business model with high added value. In this
context, the company has its own design and engineering department. This is one
of the reasons why Smith Group UK Ltd is increasingly successful in winning
bigger contacts.
Examples of recent projects include: new educational buildings for The
University of Lancaster, Salford University, the Bolton Sixth Form & Community
College and Waingels College in Reading, an expansion for the Manchester City
Council, the Theatre Severn in Shrewsbury, the multidisciplinary project Mann
Island at the Liverpool Waterfront, the office building No.1 First Street in
Manchester and an expansion of the Trafford shopping centre in Manchester.
Smith Group UK Ltd management will remain in place after the acquisition, thus
guaranteeing continuity.
Strategically strong portfolio in the UK, focus on further growth
Since 2003, Imtech has built up strong positions in the UK as well as in Ireland
in the buildings, industrial, energy and water treatment markets. After the
acquisition of Smith Group UK Ltd, revenue in the UK will total over 510 million
euro on an annual basis and the number of technical specialists will exceed
2,500 (both figures excluding Imtech's UK marine, ICT and traffic activities).
The acquisition of Smith Group UK Ltd will provide Imtech with full national
coverage in the UK, giving it a strong competitive position. Imtech can also
offer the complete 'life cycle' of technical services, from design and
engineering to implementation, technical maintenance and management. For its
maintenance activities, Imtech has attractive maintenance concepts. Within
Imtech in the UK, innovations - amongst others in the fields of energy - can be
optimally used for customers. The same applies for specific technological
competences within Imtech in Europe, for example energy, water, environmental
solutions, care & cure and R&D. In the framework of the 2015 strategy,
increasing use will be made of these competences. On balance, Imtech has a
strategically strong portfolio in the UK, enabling it to focus on further
internal and external co-operation and growth. Imtech is therefore looking
optimistic to its future in the UK.
Including its marine, ICT and traffic activities, after the acquisition Imtech
will be one of the biggest technical services providers in the UK.
0-0-0-0-0-0-0-0
More information
Media: Analysts & investors:
Pieter Koenders Jeroen Leenaers
Director Group 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 engineering, ICT (information and communication technology) and
mechanical engineering. With approximately 26,000 employees, Imtech achieves
annual revenue of around 4.5 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 21,000 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,
among others in the areas of energy, the environment, water and mobility. Imtech
shares are listed on the Euronext Stock Exchange Amsterdam, where Imtech is
included in the Midkap Index. Imtech shares are also included in the Dow Jones
STOXX 600 index.
pdf version of press release:
http://hugin.info/130755/R/1509720/444551.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Imtech N.V. via Thomson Reuters ONE
[HUG#1509720]
Unternehmensinformation / Kurzprofil:
Datum: 28.04.2011 - 07:30 Uhr
Sprache: Deutsch
News-ID 53960
Anzahl Zeichen: 8014
contact information:
Town:
Gouda
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 220 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Imtech: again position strengthening in the UK through Smith Group acquisition"
steht unter der journalistisch-redaktionellen Verantwortung von
Imtech N.V. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
