Imtech acquires Canada's Groupe Techsol Marine

imt_group_logoImtech N.V. reports that it has acquired Canada's Groupe Techsol Marine. It says that this means that Imtech has now a high-tech marine production site available in Canada and also strengthens Imtech's service and maintenance foothold in North-America.

Imtech Marine is a leading international full-service provider and system integrator of tailor-made, innovative and sustainable technology solutions covering the whole ship, including new-build ships, refits, maintenance and services. It specializes in automation (platform and bridge), navigation and communication including connectivity, energy and drive systems, HVAC solutions and fire protection systems, audio/video entertainment and maritime information services. Imtech Marine provides innovative systems and reliable services during the full lifetime of the ship. Imtech Marine has annual revenue of over 500 million euros and has 2,500 employees at more than 70 offices based along shipping routes and close to shipbuilding centers.

Imtech CEO René van der Bruggen says Imtech aims to significantly strengthen its marine activities.

"Through a combination of organic growth and acquisitions, Imtech aims to double the revenue of its marine division to approximately one billion euros by 2015," he says. "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 and control, navigation and communication and electrical systems, including switchboard and console construction. It is also 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 newbuild 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 like icebreakers and high-tech research vessels. The company has four business units for the production of specific technical solutions and equipment (Techsol Marine, Sea Marine, Soudure Technologie and ScanTech). These business units are an integral part of the acquisition.

Primary customers are major Canadian shipyards and providers of marine services. These include Groupe Océan, Industries Océan, Société des Traversiers du Québec, Groupe Desgagnés, Méridien Maritime, Irving (Halifax Shipyard), PKS Shipyard, BC Ferries, Washington Group (Vancouver & Victoria Shipyard) and the Canadian Coastguard. Part of Techsol Marine's business is obtained via export activities to amongst others North, Central and South America, Asia, the Middle East and Europe.

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 in October for the production of consoles, switchboards, drives and control systems. The company also offers specialized 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 is 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. Working for numerous navies around the world, Imtech has extensive knowledge and expertise in this field. The combination of Imtech and Groupe Techsol Marine offers an excellent positioning for the Canadian NSPS new-build navy programme.

Groupe Techsol Marine's management will stay on after the acquisition and the company will continue its activities under its own name and identity.

September 16, 2011

Want more? Subscribe now!

News from NASDAQ