Acquisition of Värnamo Elservice in the Nordic region
Gouda - Imtech N.V. (IM-AE, technical services provider in and outside Europe) announces that it has acquired the Swedish technical services provider Värnamo Elservice AB. With 20 employees, this company realises annual revenues of more than 2 million euro. This is this year's fourth smaller acquisition in the Nordic region (Sweden, Norway and Finland).
René van der Bruggen, CEO Imtech: 'Imtech is demonstrating further growth in the Nordic region, mainly organic but also through various smaller acquisitions. These acquisitions add either additional technological competences to our portfolio or form regional strengthening in those areas with little or no Imtech presence. With the new acquisition a 'white spot' is being filled in the Swedish region of Småland. This is the fourth smaller acquisition in the Nordic region this year. Including this acquisition, we have added 100 Swedish and Norwegian technical specialists to Imtech, who realise total annual revenue of 11 million euro.'
Värnamo Elservice Profile
The company is an electrical specialist in the Swedish region of Småland, mainly in the cities of Värnamo and Lagan, where Värnamo Elservice is located. This is an area with a lot of industrial activity. Värnamo Elservice works principally for industrial customers, such as Modulpac, Sundström Safety, Opido Plast and Metall Göte, but is also active in the buildings market, with an almost proportional distribution of activities between new-build and technical maintenance. An important client in this market is for instance Corallen. The Småland region is characterised by considerable investments, including the establishment and expansion of logistical and industrial companies along the E-4, the most important motorway in the region.
Growth
Operating from adjacent business premises, the acquisition will enable Imtech to increase its scale of operations considerably and to benefit for the region's logistical and industrial growth. There are also synergy advantages in the area of project management, procurement and administration. All this will lead to further growth.
Strengthening position in the Nordic region
Earlier this year Imtech acquired the Norwegian Steinar Holbæk, as well as Swedish technical services providers VVS Montage Dalarna and Fagersta Industri.
