Acquisition of AT Furustad strengthens Imtech’s position in Norway
Gouda - Imtech N.V. (technical services provider in Europe) announces the acquisition of the Norwegian technical services provider AT Furustad, via Imtech Nordic division NVS. This acquisition will make an immediate contribution to the revenue per share. The management team of AT Furustad will stay on after the acquisition.
AT Furustad, a small all-round technical services provider, is situated in Sandefjord in the Vestfold region in Norway. The company specialises in mechanical processes and air conditioning and climate control technology, both in new building and maintenance, management and services, including project management and engineering. AT Furustad has an excellent local reputation and a wide customer portfolio. The specialised staff of around 15 people generates an annual revenue of almost 1.5 million euro. The acquisition is now awaiting approval by the Norwegian competition authorities.
The Norwegian AT Furustad will become a part of NVS Norge, the Norwegian division of NVS, and will be integrated in the existing NVS branch in Sandefjord. This will expand the scale of operations and improve the market position. The customer databases of both companies are complementary. The acquisition strengthens Imtech (NVS)’s position in Norway. NVS Norge currently employs 450 technical specialists and is one of the major players on the technical services market in Norway.
Growth in the Nordic
In November 2008 Imtech acquired NVS. With an annual revenue of around 350 million euro, NVS is one of the largest technical services providers in Sweden, Norway and Finland. This acquisition fits in with Imtech’s strategy for strengthening its position further in the Nordic. Earlier this year Imtech acquired already Norwegian technical services provider Olav C. Jensen & Sřn and the Swedish specialists in high-quality process technology Sundsvalls Rörteknik.
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