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Sunday, 25 February

EDF Energy Services Buys Imtech

EDF Energy Services, a brand new joint venture between EDF Energy and Dalkia, has agreed to acquire Imtech UK and Ireland from Endless LLP.

Imtech UK and Ireland had only released its first set of figures in early March (about the time EDF Energy Services was being created)  since the Group emerged from the buyout from its failed Dutch parent company. The company employs more than 2,100 people, generating revenues of over £400m per year

The engineering services company provides technical services to construction, industrial, commercial and public sector clients.

Completion of the deal is subject to merger control clearance from the European Commission.

Imtech UK and Ireland had survived the bankruptcy of its parent firm with the help of investment from private equity firm Endless LLP.

Paul Kavanagh CEO of Imtech UK and Ireland said: “By combining forces with EDF Energy Services, we have secured greater capability to respond to the future needs of our customers. It strengthens our capacity to continue to grow and build on our relationships with new and existing customers. 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.

“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 said: “The business has outperformed on every metric. EDF will enable the business to continue to grow and offers a fantastic future for the company’s 2,100 employees."

Within EDF Energy Services Imtech will retain its operational autonomy and will continue to run the business with its management team. Imtech will be looking to recruit.

 

The buyers' view

Vincent de Rivaz, CEO EDF Energy said: “We are a 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 customers."

Sylvie Jehanno, CEO of Dalkia: ”Imtech's existing customer relationships will provide a solid platform from which we can continue to grow the business. The acquisition of Imtech UK and Ireland by our joint venture is another major step towards meeting our international growth ambition.”

 

New firm already out of the starting blocks

EDF Energy and EDF Group owned Dalkia only launched EDF Energy Services as a new joint venture on March 6 of this year, to develop energy services in the UK.

The new business was anticipated to use the companies combined expertise to help customers manage their energy use in a sustainable way.

EDF Energy is the UK’s largest low carbon electricity producer and supplies millions of residential and business accounts in Britain. It provides sustainable energy solutions for local authorities, public and private sector buildings, and industry. EDF Energy is the largest energy company in the world per se.

EDF Energy Services was born already managing several UK contracts - see picture caption.

Picture: The Barkantine district heating network in east London has been supplying low cost, energy efficient heating, hot water and electricity to more than 1,000 local homes and businesses reliably since 2000.

The new joint venture will also deliver the design, construction and operation of a new energy centre and associated heating and cooling network, which will serve the Chase Farm Hospital Trust in north London for the next 15 years. It will allow the Trust to save more than 1,100 tonnes of CO2 each year.

Article written by Brian Shillibeer

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