CLOSES SALE OF IRISH SUBSIDIARY

Technical services group Imtech has completed the sale of its Irish subsidiary Suir Engineering Ltd to London-based private equity investor Duke Street.

On 14 November, Imtech –jointly owned by EDF Group and Dalkia – revealed that it had struck an agreement to sell 100% of Suir to Duke Street. Following fulfilment of customary conditions and regulatory approvals, Imtech has now finalised the transaction. This sale is part of the EDF Group and Dalkia’s aim to prioritise and refocus its strategic activities.

Waterford-based Suir Engineering was acquired in 2007 by Imtech for about €30 million (circa £26 million).

Suir, which employs 1,300 people, said there would be no change to the day-to-day running of the company and operations would continue as normal from its main base in Waterford and other offices in Dublin, Stockholm, Copenhagen, and Frankfurt. It said the transaction, which includes investment by the senior management team, would enable it to enhance the services it offers to clients.

The company, which has nearly 40 years of engineering expertise in industries including pharmaceuticals, energy and utilities, food and beverages, and data centres, has an annual turnover of around €300 million (£263 million).

Clients include financial services adviser Lazard, accountancy firm Moore Kingston Smith, and Murphy, an engineering firm. BM has also signed major contracts with several other businesses across London and the Home Counties.

Vertas partners with Trakm8 IFM provider Vertas has partnered with fleet management specialist Trakm8 to enhance the operational efficiency of its 280-vehicle fleet to enable it to become carbon neutral by 2030.