Acquisition of activities YIT Hungary; next step in growth strategy for Eastern Europe

Gouda - Imtech N.V. (technical services provider in Europe) announces that it has taken the next step in its strategic growth plan for Eastern Europe with the acquisition of the activities of YIT in Hungary – comprising YIT Hungary Kft., YIT BIS Hungary and Duatec Hungary. On an annual basis, these YIT business units, which employ around 50 specialists, realise revenue of over 10 million euro. The acquisition will directly contribute to the earnings per share.

Imtech CEO René van der Bruggen: ‘Imtech has already been active in Eastern Europe for 15 years. In the beginning, we mainly worked on a project basis and mostly for Western customers. After this, we opened several local offices and acquired a number of companies that are fully or partially active in this region. Imtech is able to provide an effective response to the growing demand for technical solutions in this region, and by now works for a large number of Eastern European customers and investors. We have grown particularly fast over the last five years – both organically and through acquisitions. We are currently active in Poland, Russia, Romania, Croatia and Bosnia-Herzegovina. The acquisition of the YIT activities in Hungary enables us to considerably strengthen our existing position in Hungary. Our activities will be directed from Germany. The combination of local presence, strong Hungarian management, skilled local staff and the technological knowledge and competences of Imtech’s German organisation immediately makes Imtech one of the strongest technical players in Hungary today. And we expect further growth – all the more so because for some time now, we have been investing from Germany in the landing of new project orders in Hungary.’

Profile of YIT’s Hungarian activities
The company is specialised in mechanical and electrical services, including energy and energy savings, fire safety and building automation. Customers are found both in the private and public sectors. Approximately 70% of the activities concerns technical new build activities and 30% technical maintenance and management. The firm is set up in Hungary’s most important economic region, Budapest, and this is where most of the activities take place. In addition, the firm has a local office in Komárom, but it is also active in other Hungarian regions. Its customers include amongst other Mercedes, Audi, IBM, Bosch and Scandia.

Imtech in Eastern Europe
By now, Imtech’s footprint in Eastern Europe is quite substantial. All in all, Imtech employs nearly 800 people in this region, handling activities in the buildings and industrial sector, and in the area of traffic & infrastructure and ICT. Particularly in Poland, Imtech enjoys a strong position with considerable growth. Imtech has already been active in this country for 15 years. In Russia too, Imtech has been active for a long time, both on a project basis and with its own local office in St Petersburg. In 2007, Imtech acquired the technical mobility specialist Peek, which has local offices in Poland and Croatia. In October 2009, this was followed by the acquisition of the Romanian firm Arconi, established in Bucharest. In 2010, Imtech acquired the Austrian ICT specialist Sapphir, which also has a local office in Romania. Over the years, Imtech has opened several regional offices. The result of this is ongoing organic growth. With the acquisition of the Hungarian activities of YIT, Imtech is once again taking a major step forwards. Further growth in Eastern Europe is entirely in line with the company’s strategic growth plan for 2015.