Imtech ICT's UK boss has claimed its new owner Vinci is "a very good fit" for the reseller.
The pan-European IT VAR arm of the Dutch technical services titan was put up for sale via an auction process in April. The company – which last year posted EBITDA of about €40m on revenue of €740m (£588.7m) – has now been sold in its entirety to French construction heavyweight Vinci in a €255m deal.
"For Vinci, it gives them scale and geographical penetration, so it makes sense for them," said Imtech ICT UK managing director James Morgan. "I think it is a very good fit, and it also gives us some leverage."
Morgan revealed that 60 suitors had expressed an interest in buying all or part of the Imtech ICT business, with multiple bidders entering the final stage of the process. He added that everything "has run like clockwork", and that business had continued as normal throughout.
"We have continued to win business including public tenders, and we renewed several very large services contracts with some very large organisations, which I have been very happy about," he added. "[The acquisition] has been received very, very positively by our customers, vendors, partners and suppliers and, most importantly, our staff. [Vinci] have good global reach and financial strength."
Imtech ICT employs 2,402 people across six European countries and the Philippines and its business is split into five areas: cloud solutions; managed services; business analytics; collaboration solutions; and business solutions. In the UK, where last year the firm generated EBITDA of £2m on sales of £52m, Imtech ICT is Juniper's largest partner. Other key vendors across Europe include IBM, Microsoft, Cisco, SAP, and EMC.
Its parent, Dutch outsourcing giant Royal Imtech, has encountered financial difficulties since enduring a €370m writedown last year. The costs came as a result of irregularities in its German and Polish businesses, caused by what it characterised as "unethical and undesirable" business practices. It has been trying to trim its debt levels by €400m, a key part of which is the sale of the profitable ICT arm.
Vinci has about 191,000 staff spread across 100 countries and had a top line of more than €40bn in 2013. It owns France-headquartered enterprise ICT reseller Axians.
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