The M&E firm was acquired by private equity firm Endless from Royal Imtech in 2015
A joint venture between EDF Energy and Dalkia has agreed to acquire M&E firm Imtech UK and Ireland from private equity investor Endless LLP.
Endless acquired the UK arm of Royal Imtech in September 2015 after the Dutch-based firm was placed into bankruptcy.
The UK business, which reported an annual turnover of £645m in the calendar year 2013, was not included in the bankruptcy proceedings and continued to operate under its management.
EDF Energy Services said the deal would enable Imtech UK and Ireland to accelerate the development of its services by responding to market trends and new technologies.
Imtech, which employs over 2,100 people, will retain autonomy over its operations within EDF Energy Services and its management team will continue to run the business.
Dalkia, part of the EDF Group, is an energy service company offering management and maintenance services to the public sector, industry and offices.
Endless was advised by Clearwater International on the sale.
Vincent de Rivaz, chief executive at 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.
“We are delighted to welcome the 2,100 employees of Imtech. There is a close fit between the two businesses with our shared passion for safety, innovation, digital solutions and quality of service for customers.”
Sylvie Jehanno, chief executive of Dalkia, added: “Their [Imtech] 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.”
“The acquisition of Imtech UK and Ireland by our joint venture is another major step towards meeting our international growth ambition.”
Imtech UK and Ireland chief executive Paul Kavanagh said: “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.
“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: “The business [Imtech] 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.