Triton has signed an agreement to acquire Imtech Nordic
- Triton Fund IV will acquire 100% of Imtech Nordic, formally a division of Royal Imtech N.V.
- Triton is proposing to support substantial investments in the business, providing a strong financial platform to continue the successful development of the company
- The acquisition presents opportunities to leverage on the strong local brand names: NVS, NEA, Sydtotal and EMC Talotekniikka
Stockholm (Sweden), 1 September 2015 - Funds advised by Triton have signed an agreement to acquire Imtech Nordic, a leading Nordic complete technical installations partner that operates through three business segments: Heating and Plumbing, Ventilation, and Electrical installation and services. Triton fund IV will acquire all the assets of Imtech Nordic, formally a division of Royal Imtech N.V, from Waterval BV. The parties have agreed not to disclose the purchase price. The transaction is subject to regulatory approval in the relevant jurisdictions
"We want to support management and the employees of Imtech Nordic as a stable owner in investing in and supporting the growth and development of the company. We will contribute our strategic insights from the service industry as well as operational know-how. We look forward to working together with the management team and the new Board of Directors in building a stronger company", said Peder Prahl, Director of the General Partner to the Triton fund.
"The involvement of a new owner is a real acknowledgement of Imtech Nordic. We are delighted that we have found a long-term oriented owner in Triton that suits us perfectly, both regarding regional and operational expertise. We are looking forward to continuing our growth plan with Triton at our side", said Håkan Kirstein, CEO of Imtech Nordic.
"Imtech Nordic is the home of NVS, NEA, Sydtotal, EMC Talotekniikka, and all have become trusted players in the Nordics. By providing a solid financial platform, these brands will be in a good position to take advantage of growth opportunities in the years to come", said Carl Johan Falkenberg, responsible Investment Professional from Triton Advisers Sweden.
About Imtech Nordic
Imtech Nordic, headquartered in Stockholm, formally a division of publically listed Royal Imtech N.V., has become one of the market leaders in the Nordic countries. The combination of Heating and Plumbing, Ventilation and Electrical installation and services has created a complete technical installations partner that offers an array of products and services under four different brands: NVS, NEA, Sydtotal, and EMC Talotekniikka. Imtech Nordic operates from approximately 100 locations in Sweden, Norway and Finland with a total of around 5,000 employees.
For further information: www.imtech.se
The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Northern Europe - with a focus on Germany, Switzerland, Austria and the four Nordic countries: Denmark, Finland, Norway and Sweden. Within this European region, Triton focuses on businesses in the Industrial, Business Services, and Consumer/Health sectors.
Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth. The 29 companies currently in Triton's portfolio have combined sales of approximately 13 billion Euros and over 55,000 employees.
For further information: www.triton-partners.com