Imtech sells Swedish technical wholesale activities to Ahlsell

Gouda, the Netherlands - Imtech N.V. (technical services provider in Europe) announces that its sells its Swedish technical wholesale activities - the NEA Elmateriel AB business unit of Imtech Nordic - to Ahlsell Sweden (Ahlsell Sverige AB).

René van der Bruggen, CEO Imtech: ‘Selling of our Swedish technical wholesale activities allows us to fully concentrate on our core business of technical services providing in Sweden, Norway and Finland. We are in this region on the eve of an integration of the electrical activities of NEA with the mechanical activities of NVS. Together, these companies in 2012 will continue as Imtech Nordic with the aim of delivering complete multidisciplinary technical services to its more than 2,000 customers. Goal is to achieve higher added value for these customers by cross-selling and to increase both revenue and profitability. In this framework we are also looking for further acquisitions.’

Selling technical wholesale activities
Imtech has a 100% interest in in the business unit NEA Elmateriel, which was obtained with the acquisition of NEA (Närkes Elektriska AB) in June 2010. Technical wholesale is not the core business of Imtech; hence these activities are now being deconsolidated. Accession of NEA Elmateriel to Ahlsell Sweden makes it possible to significantly strengthen Ahlsell’s market position in Sweden, while maintaining the employment of employees of NEA Elmateriel. At the same time a purchase agreement between Imtech Nordic (for both the electrical services activities of NEA and the mechanical activities of NVS) and Ahlsell has been agreed that Imtech for a period of 5 years can make use of favourable conditions for the complete delivery palette of Ahlsell.

NEA Elmateriel profile
NEA Elmateriel is one of the larger electrical wholesale organisations in Sweden. This business unit serves its clients spread across eight regions in Sweden with a total of 40 local branches. With approximately 170 employees NEA Elmateriel realises annual revenue of around 90 million euro, of which 50% is internal revenue (within NEA) and 50% is external revenue (with third parties).

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