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Imtech strengthens position in Norway

Gouda, the Netherlands - Imtech N.V. (IM-AE, technical services provider in and outside Europe) announces that it has acquired the Norwegian company Steinar Holbæk. This acquisition will enable Imtech to develop a strong position in the Norwegian growth region of Kristiansand, where it is hardly active. With almost 40 employees Steinar Holbæk realises annual revenue of almost 4 million euro. The acquisition will be paid in cash and will directly contribute to the earnings per share.

René van der Bruggen, CEO Imtech: 'In Norway Imtech has more than 500 employees and works from 14 subsidiaries. However, Imtech did not have a position in the growth region of Kristiansand. The acquisition of Steinar Holbæk means that this position has been filled. Cooperation between the acquired company and other Imtech companies in Norway will make it possible to offer a broad service package to customers. This will lead to further future growth. This small acquisition fits within our strategic growth plan 2015, to strengthen and further expand our position in the Nordic region, including Norway.'

Steinar Holbæk profile
Steinar Holbæk was established in 1990 and as a full technical services provider is specialised in energy technology, heating, and cooling and sprinkler technology. The company is active in both industry and buildings.

The acquisition is subject to the approval of the Norwegian competition authorities.

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