Gouda, The Netherlands -
Royal Imtech N.V. (IM-AE, technical services provider in and
outside Europe) announces that it will be acquiring the Finnish
technical services provider EMC Talotekniikka Oy. With 580
employees, this company realises annual revenue of over 100 million
euro. The acquisition price is in line with Imtech's previous
acquisitions in Finland and will be paid in cash. The acquisition
will immediately contribute to the earnings per share, and will
enable Imtech to strengthen its position in Finland
considerably.
René van der Bruggen, CEO Imtech: 'In the
framework of our 2015 growth strategy, we would like to achieve
considerable growth in the Nordic region (Sweden, Norway and
Finland). Revenue here amounted to almost 700 million euro in 2011.
Through a combination of organic growth and additional acquisitions
we are striving to achieve around 1 billion euro revenue in this
region by 2015. The acquisition of EMC Talotekniikka fits well in
this growth scenario, also because until now our position in
Finland has been limited. The new Imtech company is ready for its
next growth phase. Considerable growth is expected in the coming
years on the basis of the market potential in Finland, EMC
Talotekniikka's specific strengths, Imtech's financial security and
continuity, and the available cross-selling potential.'
EMC Talotekniikka
profile
EMC Talotekniikka was created in 2007 through the combination of
four medium-sized technical services providers that were
established partly in 1925. The Finnish private equity company,
Vaaka Partners Oy, acquired the majority of the shares in 2007,
with other shares being owned by the management, Keskinäinen
Eläkevakuutusyhtiö Etera and Suomen Teollisuussijoitus Oy. Various
acquisitions were made to strengthen its geographical and technical
position (in energy and building automation for example), and its
position in project management and consultancy. The strong position
and considerable growth of the company is a result of both organic
growth and acquisitions.
EMC Talotekniikka is a top-5 player in the
technical services market with national coverage through 11
branches in three regions in northern, central and southern
Finland. There are four business units: Building Systems, Technical
Services, Pipeline Renovation and Products & Prefabrication.
Multi-disciplinary technical projects, the combination of among
others electrical services, energy, mechanical services (air,
climate, air-conditioning), security and telecommunications, are
carried out in the buildings and industry markets, in both
new-build and maintenance and management, including technical
services. Good positions are held in the segments of (public)
buildings, retail, education, care, recreation, energy, mining, and
heavy and light industry sectors. EMC Talotekniikka also
specialises in project management, energy solutions and building
automation.
In Finland there is a specific incentive scheme
for the renovation of (the technical and energy infrastructure in)
older apartment complexes. EMC Talotekniikka is one of the
strongest players in this field with dozens of large projects each
year. The Silotek® prefabrication solution was devised for these
projects. This is produced under own management and is an
energy-efficient, multi-functional pipeline system for water,
heating, electricity and other media. Silotek® is innovative, needs
little space, meets the highest safety and fire safety standards
and can be installed easily.
The company acts as permanent technology or
maintenance partner for a large group of customers, including
Varma, Sponda, Etera and Ovenia. There is also a good spread of
activities in terms of project size and geography and across
different technologies and market segments.
Ready for the next growth
phase
EMC Talotekniikka is ready for the next growth phase. The company
is healthy and well-organised, and the management, which will
remain following acquisition, has a sound ambition. The acquisition
by Imtech offers the perfect springboard for this. The market and
the achieved market positions offer solid starting points for
further growth. Various large investment projects will become
available in the medium-term. The incentive scheme for renovating
older apartment complexes demonstrates considerable investment
impulses. The range of customers here has expanded from housing
corporations to private apartment associations. Extra growth
markets include recently opened steel, nickel and gold mines in the
north of Finland, and position expansion in the Helsinki
region.
Cross-selling
potential
From its strong position in Sweden, Norway and Finland, Imtech EMC
Talotekniikka can offer further growth potential, mainly through
cross-selling within specific technical competences such as energy,
complex energy infrastructures, green (LEED/BREEAM) buildings, care
& cure, biomass and specific electrical industrial competences.
Within the broader Imtech portfolio there are also opportunities in
other Finnish market segments, including power plants,
decentralised energy services, water and waste water treatment, and
waste-to-energy.
Imtech in
Finland
Imtech already holds positions in industry in central Finland and
in the traffic market nationwide. In July 2012, Imtech acquired
technical services providers SSR and Polar (50 employees, annual
revenue of around 15 million), thereby further strengthening its
industrial and traffic position. The EMC Talotekniikka acquisition
almost completes Imtech's position in Finland.
Approval of competition
authorities
The acquisition is subject to the approval of the Finnish
competition authorities. The acquisition is expected to be
completed by early 2013.
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More information
Media: |
Analysts & investors: |
Pieter Koenders
Director Group Communications
T: +31 655 74 65 85
E: pieter.koenders@imtech.com
www.imtech.com |
Jeroen Leenaers
Manager Investor Relations
T: +31 182 543 504
E: jeroen.leenaers@imtech.com
www.imtech.com
|
Imtech
profile
Royal Imtech N.V. is a European technical
services provider in the fields of electrical solutions, ICT
(information and communication technology) and mechanical
solutions. With 29,000 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, Turkey 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 traffic. 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.
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Pdf: Imtech Press Release
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