Nordic
Early November 2008 Imtech has acquired Swedish technical services provider NVS (NVS Installation AB). NVS is one of the largest players in the technical mechanical services market in Sweden and Norway, with a basic position in Finland. NVS expects to realise revenue of 350 million euro with more then 2,300 employees.
The acquisition allows Imtech to implement its strategic plan for further growth targeted at annual revenues of 5 billion euro in 2012. It also establishes a basis for further growth in Scandinavia, both organically and through additional acquisitions. The purchase price of 235 million euro (excluding cash and cash equivalents) will be financed through a separate loan that Imtech has secured with a syndicate of banks. After the acquisition the Imtech balance sheet will be sufficiently strong to continue implementation of the strategic plan 2012.
NVS focuses on a wide range of fast-growing and diversified activities within the fields of energy, air conditioning and climate technology, with an excellent spread across service, maintenance, management, renovation and new technology implementations. In the fragmented Scandinavian market, this focus will enable further short-term growth by additional acquisitions in electrical engineering and long-term growth by additional acquisitions in ICT. NVS is an excellently managed company with motivated management, a high margin, strong cash generation, an active acquisition policy and an outstanding track record when it comes to growth. Besides further growth in Scandinavia, NVS is for the longer term aiming at the Baltic states, a region where Imtech does not yet hold a position.
NVS Profile
Established in 1902, NVS is one of the largest and fast growing technical services providers in Sweden and Norway, with a basic position in Finland. The head office of NVS is located at Malmö in Sweden. NVS has over 1,000 regular customers of varying sizes in different markets, including industry, government, buildings and infrastructure. The company maintains direct contacts with end-clients and has strong relationships with its customers. More than 2,000 projects were carried out by NVS in 2007, with a balanced spread across service, maintenance, management, renovation and new technology implementations.
The company is broadly diversified. In HVAC (Heating Ventilation and Air Conditioning), NVS is a dominant player in Scandinavia, focusing on growth markets such as energy and water. In services and maintenance, accounting for 30% of total revenues, NVS is active in preventive and corrective servicing and maintenance. The company has 600 long-term service contracts, ranging from small to large (amongst others contracts with Statoil, ISS, Svedbergs and ABB). NVS is growing strongly in the field of industrial services, where it focuses on the hydraulic and pneumatic markets, and holds a solid position in the market of power stations. Furthermore, NVS is market leader in fire safety and one of the few certificated sprinkler companies in Sweden and Norway. In this market NVS operates across the full spectrum, with activities like planning, design, certification and installation all the way through to maintenance and inspection. Additionally, NVS is active in the market for advanced cooling for industrial complexes, the food industry, climatic chambers and computer rooms. The company is finally growing strongly in the energy optimisation field.
NVS Website