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Aqua helps raise profit at M&E giant Imtech

M&E giant Imtech says its position within the UK and European market has been strengthened by the purchase of Cambirdgeshire based building services specialist Aqua Group.

Now it is eyeing up further acquisitions in the UK which fit into its ambitious growth plans and hopes to cash in on the 2012 Olympics.

This week’s results show the Dutch group, which has operations across Europe, has seen its revenue grow to 3.34billion Euros and net profits rise by 35.9 per cent to 91.9million Euros in 2007.

The company’s annual report said it has seen a “sharp rise in revenue and order portfolio, through organic growth and acquisitions” in the UK and Ireland. It also indicated the company wanted to build its profile in both markets where it has enjoyed “robust growth”.

Other Imtech businesses in the UK include Imtech Meica, Goodmarriott&Hursthouse and Imtech Process.

The report said: “The acquisition of Aqua Group has strengthened Imtech’s position in Eastern England and the acquisition of Suir Engineering has given Imtech access to Ireland where, until now, its activities were minimal.

“Progress was made in all the buildings regions. Further growth is expected, in part due to the influence of the 2012 Olympic Games.”

René van der Bruggen, Imtech chief executive, said the purchase of Aqua Group and Suir Engineering alongside nine other companies gave him “great confidence in 2008”.

He added: “In 2007 Imtech was strengthened by the acquisition of eleven technology companies that fit in well with Imtech. The annual revenue of these acquisitions amounts to 250 million euro.
'With investment in technology increasing and a large, high-quality order portfolio we have great confidence in 2008. Also because Imtech has succeeded in building-up an excellent position in growth markets such as energy, water and the environment.
'Around 22per cent (750 million euro) of the 2007 revenue came from these fast-growing market segments.

'Imtech is striving for revenue of 5 billion euro in 2012, through organic growth and acquisitions. Imtech is moving towards a leading position as a European technical services provider and in the global marine market.”