2009-12-01 07:32:56 -
London, December , 01, 2009
Gouda - Imtech (technical services provider in Europe) announces that
it has strengthened its position and portfolio in Spain through the
acquisition of the Spanish electrotechnical specialists Huguet
Levante and Huguet Mantenimiento. Combined, these two companies
employ 245 people and in 2008, they realised a total revenue of over
20 million euro. The acquisition sum is based on approximately five
times the average EBITA for 2008 and 2009 and will be paid in cash.
The acquisition will make an immediate contribution to the profit per
share.
Imtech CEO René van der Bruggen considers the acquisitions as a
logical next step in Spain: 'Until the year before last, Imtech in
Spain was primarily active in the fields of mechanical process
technology and air and climate technology. In strategic terms, we
would like to expand our portfolio with electrical services. After
all, in Spain - as in other European countries - our objective is to
offer total technical solutions via the combination of electrical and
mechanical services. We took the first step last year by the
acquisition of the first electrotechnical Huguet company as well as
by offering autonomously initiated electrotechnical services. With
the acquisition of both other electrotechnical Huguet companies, we
will be taking the next step, which will contribute to further
growth. Imtech has already proven in a large number of European
countries that this strategy is successful and leads to growth.'
Company profiles of Huguet Levante and Huguet Mantenimiento
Huguet Levante is an electrotechnical specialist working in the
fields of low and medium voltage, fire detection and innovative
cabling. The focus lies mainly on hospitals and the care sector, but
in addition, the company is active in universities, offices, hotels,
shopping centres and schools. Huguet Mantenimiento is an electrical
and mechanical maintenance specialist with a strong focus on the
public sector, working for clients like regional governments,
municipalities and energy companies. In addition, the company also
works for universities and hospitals. The majority of the activities
involve long-term maintenance contracts.
Growth in the Valencia region
Both acquired companies are operating in the Valencia and Murcia
regions, where Imtech already enjoys a good regional position as a
strong player in the mechanical sector. In one fell swoop, the
bundling of activities will make Imtech a strong regional
multidisciplinary (both electrical and mechanical) player with a
broad range of activities with a good spread across new construction
and technical maintenance and management in a large number of
sectors. The objective is further growth through synergy,
cross-selling between electrical and mechanical services and the
offering of higher added value.
Total solutions
In Spain, Imtech is one of the larger players in the technical
services sector. Imtech can rely on strong positions in both the
industrial and buildings sectors. The focus primarily lies on
technical processes in the field of mechanical engineering, but
Imtech is increasingly active with activities in the areas of
electrical engineering and instrumentation. Last year, an autonomous
competence centre was established to facilitate this. In addition, at
the end of December 2008, Imtech acquired the first part of the
electrotechnical player Huguet, which is active in the regions
Madrid, Barcelona and Navarra. The present acquisition of the two
other electrotechnical Huguet companies ties in seamlessly with this.
The strategic objective is that in Spain, Imtech will develop further
into a complete technical services provider that offers comprehensive
technical solutions on the basis of national coverage.
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More information
Media: Analysts & investors:
Mark Salomons Jeroen Leenaers
Company Secretary Manager Investor Relations
T: +31 182 54 35 14 T: +31 182 54 35 04
E: mark.salomons@imtech.eu E: jeroen.leenaers@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 and mechanical engineering. With over
22,500 employees, Imtech achieves annual revenue of around 3.8
billion euro. Imtech holds strong positions in the buildings,
industry and infrastructure/traffic markets in the Netherlands,
Belgium, Luxembourg, Germany, Eastern Europe, Nordic, the UK, Ireland
and Spain and in the global marine market. In total Imtech serves
19,500 customers. Imtech offers added value in the form of 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
Euronext Stock Exchange 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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