Imtech Acquires Canadian Marine Company Groupe Techsol Marine
Imtech N.V. (IM-AE, technical services provider in Europe and on the global marine market) announces the acquisition of the Canadian marine company Groupe Techsol Marine.
This strategic acquisition means that Imtech has now a high-tech marine production site available in Canada. The acquisition also strengthens Imtech’s service and maintenance foothold in North-America.
With over 100 employees, Groupe Techsol Marine realizes annual revenues of around 20 million euro. The acquisition will be paid in cash and will directly contribute to the earnings per share.
Imtech CEO René van der Bruggen: ‘We enjoy a strong position in the global marine market, being active in over 20 countries at more than 70 local offices along all major shipping routes and near major shipbuilding centres. In accordance with our strategic growth plan, we aim to significantly strengthen our marine activities. Through a combination of organic growth and acquisitions, Imtech aims to double the revenue of its marine division to approximately 1 billion euro by 2015. In this context, Imtech intends to open marine production and multi-services sites in important new areas, where we will be equipping newly-built ships and refit projects with total technological solutions and at the same time offering customers first class service and maintenance support. Groupe Techsol Marine fits perfectly in our strategic plans. Under Imtech’s technological and financially strong wings, the new Imtech company is expected to show continued healthy growth.’
Groupe Techsol Marine, based in Quebec, was established 15 years ago by the current management and specializes in high-tech marine technical solutions in the field of vessel automation, alarm, monitoring & control, navigation & communication and electrical systems, including switchboard and console construction. In addition, Groupe Techsol Marine is an innovator in the field of energy-efficient electric propulsion technology. The company operates as a ‘whole ship solutions’ system integrator, combining its own software and hardware products with those of third parties to produce state of the art solutions for its customers. Besides new-build projects, the company also handles refit and maintenance activities. Groupe Techsol Marine is primarily active in the market segments of government vessels, workboats, tugs, ferries and special purpose vessels.
In the context of Imtech’s marine strategy, Canada is a prime location for growth. With Groupe Techsol Marine, Imtech is in a position to support its customers in Canada with a total, innovative technology and services portfolio for new-build, refit and maintenance projects. Groupe Techsol Marine has a strong local position and will open new extensive production facilities as per October for the production of consoles, switchboards, drives and control systems. Moreover the company offers specialised integrated logistic support, strengthening the service locations Imtech already has in Vancouver and Halifax. With the addition of Groupe Techsol Marine, Imtech will realize extra growth potential for production and service activities.
A current major development of interest are the extensive plans of the Canadian Government, under the National Shipbuilding Procurement Strategy (NSPS) program, to build a large number of Navy and Coastguard vessels at various to-be-selected shipyards.
