Imtech announced the acquisition of Swedish energy and climate specialist Ventkontrol. According to management, the acquisition will be accretive to EPS, and it will be paid in cash. No other financial details were disclosed.
Ventkontrol operates in the Ostergotland region of Sweden, which strengthens Imtech’s regional position. The company has sales of circa € 7m per annum, of which more than 25% is from long term maintenance contracts. The majority of sales is from public clients. It employs 55 people.
So far, Imtech has acquired 13 companies with combined sales of € 416m per annum, spread across different regions and technologies. Ventkontrol is the 5th acquisition in Nordic this year.
In view of the size of Ventkontrol, 0.1% of Imtech group sales, the acquisition should have no major impact on our estimates.