Imtech: Intended Acquisition of Radio Holland Group
20 March 2006 10:22
Gouda, The Netherlands - Imtech N.V. (technical services provider in Europe) announces that it intends to acquire Radio Holland Group, an international specialist in marine satellite and radio communications, automation, and observation and navigation systems.
This acquisition will almost double the revenue of Imtech in the maritime market, which yields a place it in the global top 5. The acquisition price, including an earn-out, is approximately 47 million euro and will be paid in cash. The acquisition fits the Imtech strategy of further international growth in the marine market and makes a direct contribution to the earnings per share.
Both parties have signed an agreement regarding the transfer of shares of the current owners ABN AMRO Capital (56%) and Stichting Co-Investors Radio Holland Group (44%), in which investors and current management participate. Imtech will acquire all Radio Holland Group shares, including equity participations and holdings. An agreement has been made with the management of Radio Holland Group that they will dedicate themselves to the organisation for a period of at least two years after the acquisition. With this, continuity is guaranteed. When relevant works councils involved will be consulted, as well as trade unions informed. The works council of Imtech has already advised positive on the intended acquisition. The acquisition can be formalised after the expected approval of NMa (Dutch Competition Authority) and German Bundeskartellamt (German Federal Cartel Office).
For more information on this company:
Imtech Marine & Offshore - Naval System Integrator
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