Parcom et al. acquire Imtech Marine

Having secured EU clearance, Imtech Marine will be rebranded on 5 November.

The business will be fully carved out from Hamburg-headquartered parent Royal Imtech, two months after a court in Rotterdam declared bankruptcy for several subsidiaries in the group; suspension of payments had taken place two days before the court's decision.

At the time, Royal Imtech revealed it would let go of a number of its European business units to appease lenders and minimise lay-offs across the group.

Imtech Marine was earmarked for buyers Parcom and Pon. Imtech Nordic – a heating, plumbing and ventilation contractor operating in Sweden, Norway and Finland – will also see its sale finalised in the short-term.

In addition, Royal Imtech stated conversations were underway with potential suitors for its traffic and infrastructure subsidiary as well as its operations in Spain, Belgium, the UK and Ireland.

The UK and Ireland unit, described as "profitable" and "well run" by Imtech, was ultimately sold to Endless. In early September, the GP drew equity from its £525m fourth fund to pick up a majority stake in the subsidiary. According to unquote" data, the firm invested alongside the management team.

Company
Established in 1860 under the Van Rietschoten & Houwens name, Imtech Marine provides vessels with maritime technologies including power generation and distribution, propulsion, automation, navigation, communication and connectivity.

Headquartered in Rotterdam, the business runs a total of 85 offices across 30 countries worldwide. It employs 2,500 professionals, 900 of whom work in the Netherlands.

People
René ten Brinke is Imtech Marine's current CEO.

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