Energy giant acquires £400m engineering business from Endless
Energy giant EDF has acquired Imtech UK, an Endless-backed, Leeds-based engineering and technical services business.
EDF Energy Services, a joint venture between EDF Energy and Dalkia, has acquired Imtech, a £400m turnover business employing 2,100 people.
The company was bought by Endless in 2015 after its Dutch parent filed for insolvency, cutting off funds to the UK business which forced it into administration.
EDF said the acquisition would enable Imtech to accelerate its growth, and combine expertise on a wider range of projects.
Within EDF Energy Services Imtech will retain its operational independence with its experienced management team.
It did suggest that job creation was in the works, with Imtech looking to recruit new talent into the business to accommodate the acceleration of its strategy.
Vincent de Rivaz, CEO EDF Energy said: “As the UK’s leading generator of low carbon electricity and a major supplier to businesses, the addition of Imtech is a significant step in the development of energy services and low carbon solutions for our valued customers. This agreement is a key element of our strategy for long-term growth and investment, and a further demonstration of our commitment and support for British businesses and industries.”
Sylvie Jehanno, CEO of Dalkia: ”Thanks to this acquisition, we are excited to welcome the skilled and experienced Imtech teams to EDF Energy Services. Their existing customer relationships will provide a solid platform from which we can continue to grow the business. I am convinced that our combined expertise will enable us to continue to support our customers and develop innovation and digital solutions for their benefit.”
Paul Kavanagh CEO of Imtech UK and Ireland added: “We are delighted to become part of the EDF family. The support of EDF Energy Services strengthens our capacity to continue to grow and build on our relationships with new and existing customers in the years ahead. I would like to recognise the support our customers have given the business over many years and we look forward to continuing to partner with them.
“By combining forces with EDF Energy Services, we have secured greater capability to respond to the future needs of our customers, and will be able to design and deliver innovative solutions.
“Endless has been a great owner of Imtech and I would like to thank them for all their support and input over the last two years.”
Aidan Robson, partner at Endless commented: “We are tremendously proud to have partnered with Imtech over the last two years. The business has outperformed on every metric, which is an outstanding achievement and demonstrates the strength of the team and business we are now passing on. EDF will enable the business to continue to grow and offers a fantastic future for the company’s 2,100 employees.
“We wish Paul Kavanagh and the whole Imtech team along with their new owners EDF, all the best for the future and thank them for their outstanding efforts and commitment.”
