Imtech (technical services provider in Europe) announces that it has strengthened its position and portfolio in Spain through the acquisition of the Spanish electrotechnical specialists Huguet Levante and Huguet Mantenimiento. Combined, these two companies employ 245 people and in 2008, they realised a total revenue of over 20 million euro. The acquisition sum is based on approximately five times the average EBITA for 2008 and 2009 and will be paid in cash. The acquisition will make an immediate contribution to the profit per share.
Imtech CEO René van der Bruggen considers the acquisitions as a logical next step in Spain:
Imtech CEO René van der Bruggen considers the acquisitions as a logical next step in Spain:
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