Imtech acquires the Norwegian activities of technical services provider Elajo

Gouda - Imtech N.V. (technical services provider in Europe) is acquiring the Norwegian activities of the electrical services provider Elajo Installasjon AS. The acquisition will enable Imtech to further strengthen its position in the Norwegian market, especially in the economically thriving region around Oslo. On an annual basis, Elajo, which employs almost sixty people, generates revenue of around seven million euro in the Oslo region. The acquisition, which will be paid for in cash, will contribute directly towards the earnings per share.

René van der Bruggen, Imtech CEO: ‘With the acquisition of NEA in June 2010, we secured a 38% interest in electrical services provider Elajo Invest AB, which is active in Sweden and Norway. We are now acquiring the remaining stake in Elajo’s Norwegian activities in the Oslo region, where we are already a strong player in the field of mechanical services. The acquisition will enable us to add electrical services to our services portfolio. Imtech is now in a position – in accordance with the Imtech approach – to provide multidisciplinary technical services in Oslo and the surrounding area, and this will help us achieve further growth. The acquisition is in keeping with our 2015 strategic growth plan to further expand our existing positions in Europe, including those in Norway.’

Profile of Elajo’s Norwegian activities
The history of Elajo Installasjon dates back to 1892. The company is based in Økern in Oslo and specialises in the provision of electrical services, including solutions in the fields of security, energy, mobility, technical automation and other electrical systems. Elajo also enjoys a strong market position in telecommunications, and has customers in both the private and public sectors. Around 60% of the company’s activities concern technical maintenance and management, while 40% are related to technical new construction and new build technical activities. Important reference projects in the Oslo region are the technological renovation of a large office building of the University of Oslo, a new care hotel that is linked to the Radiumhospitalet hospital and the sustainable new building of the Norwegian tax authorities.

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

In February this year, Imtech acquired Unireg in Norway, which specialises in software (building automation) and energy technology with specific services and competencies in the field of intelligent ‘green’ buildings and ‘green’ technical infrastructure.