Imtech: acquisition of Peek Traffic, internationalisation of
infra-activities
* Imtech gains strong position in infrastructure market in Western
Europe and secures entry position in Eastern Europe
* Strengthening of infrastructure activities with high-tech
Information and Communication Technology (ICT) solutions
Gouda, The Netherlands, 5 April 2007 - Imtech N.V. (European
technical services provider) announces the acquisition of Peek
Traffic Holdings Ltd (Peek Traffic). Imtech will acquire the entire
share capital of Peek Traffic held by the BNP Paribas Group and other
investors. Peek Traffic enjoys a strong position in the rapidly
growing mobility (road, water, rail) market across Western Europe
(especially in the UK and the Netherlands) as well as parts of
Eastern Europe with its broad range of intelligent traffic solutions.
With more than 600 employees, Peek Traffic realised revenues of 90
million euro in 2006.
The completion of the transaction is subject to the approval from the
German competition authority. This acquisition fits in with Imtech's
strategy for further growth in Infra-activities in Europe. Moreover,
the ICT (information and communication technology) component of
Imtech operations will deliver an important contribution to the
product and services portfolio of Peek Traffic. The activities of
Peek Traffic fit in seamlessly with the existing Infra-activities of
Imtech. The acquisition will instantly make Imtech a powerful player
on the European infrastructure market. The purchase price (excluding
debts) amounts to approximately 80 million euro and will be paid in
cash. The acquisition will make an immediate contribution to the
earnings per share.
René van der Bruggen, Chairman of the Board of Management of Imtech,
is particularly pleased about the acquisition: 'Peek Traffic is a
perfect candidate for acquisition by Imtech and basically the only
market player available to instantly put us on the map as a powerful
total solutions provider in the rapidly growing mobility market. This
will significantly reinforce the European position of Imtech in the
infrastructure market. It is furthermore important that - in keeping
with our strategy - the ICT component at Peek Traffic assumes an
important position. ICT is a fundamental driver for innovation and
higher margins. With a margin of around 10%, Peek Traffic meets this
need sufficiently. Jointly, Imtech and Peek Traffic form the ideal
combination of advanced project management, high-tech intelligent
mobility solutions, ICT and delivery capacity.'
Current position
Imtech (Imtech Infra) holds a strong position in the infra-market in
the Netherlands and Belgium. With revenues totalling approximately
173 million euro in 2006 and 1,600 employees, Imtech counts among the
strongest players in these countries in terms of development,
engineering, construction, maintenance and management of total
technical solutions for, among other things, mobility issues (road,
water, rail), energy, public lighting and digitalisation of
infrastructure networks. Imtech designs, delivers, and maintains
high-tech traffic centres and provides a broad package of solutions
for traffic signalling systems, for example. However, Imtech also
collects and computerises traffic data, ensures safety and
environmentally friendly (dynamic) lighting on roads and motorways,
provides modern technology for bridges, tunnels and locks, and
contributes to the expansion, improvement and safety of the railway
network.
Strategy
Unlike its other activities such as buildings, industry and maritime
markets, Imtech has not yet expanded its infra-activities to include
other countries which it regards as core European markets. Imtech is
not yet active in the infra-markets in the UK, Eastern Europe and
Germany. It is for this reason that it has formulated the strategy to
further expand the infra-activities in Europe. Imtech seeks to
strengthen its infra-activities with high-tech solutions in the field
of ICT. This strategy is aimed at contributing to growth and
continued profitability. This can be realised partly due to the fact
that investments both within and outside the European infra-market
are on the increase. There is a growing demand for intelligent
solutions in the field of mobility, like for example traffic centres,
traffic safety and traffic enforcement and technology is one of the
few solutions making an active contribution towards an
environmentally friendly and safe flow of rapidly growing road
traffic. In this regard ICT is increasingly becoming an important
driver, ensuring significant advances in technological developments.
The acquisition of Peek Traffic will instantly enable the realisation
of the above-mentioned strategy. For Imtech this means a substantial
step forward in the European infrastructure market.
Profile of Peek Traffic
Peek Traffic is a technical service provider and system integrator
specialising in total mobility solutions in the fields of:
* ITS, Intelligent Transport Systems: dynamic software for
measuring, analysing and predicting traffic flow, route
information systems, incident management and technical solutions
that benefit traffic safety;
* Dynamic traffic management: solutions that significantly increase
the traffic flow capacity, for example network management
systems, motorway signalling systems, rush hour lane technology,
access ramp management and tunnel management;
* Traffic safety, traffic enforcement and the environment: digital
average speed control systems, (digital) speed cameras, dynamic
speed control on the basis of traffic jams on the
motorways/roads, number plate recognition and detection of
hazardous materials;
* Public transport: priority systems for public transport at
traffic lights, dynamic information for passengers and dynamic
(compact) bus stations.
With more than 600 employees, Peek Traffic realised revenues of 90
million euro in 2006. The organisation consists of two operating
divisions:
* Peek UK (Head Office: Basingstoke, Hampshire, UK) with activities
in 14 offices in the UK and Ireland;
* Peek Nederland (Head Office Amersfoort, Utrecht), with activities
in two offices in the Netherlands, Belgium and Germany. Peek
Nederland also owns two rapidly growing subsidiaries in the East
European countries of Poland and Croatia.
Peek UK (some 450 employees) is a major player in the mobility market
in the UK and the Irish Republic that offers the combination of
high-tech products, systems and services for both the urban and the
motorways environment. The clients of Peek UK include the Highways
Agency (executive agency covering all motorways and trunk roads in
England), Transport for London (executive agency covering the entire
road network in and around London), the National Highways Authorities
of Scotland and Wales, as well as a large number of local
authorities. The most important project for Peek in the UK is the
NRTS project (National Roads Telecommunications Services). This is a
PPP project (Public Private Partnership) that Peek UK is carrying out
in collaboration with Fluor and Alcatel. In short, this PPP
consortium improves and maintains the high-tech data backbone to
which all traffic systems of the Highways Agency are connected. This
project will run for ten years, with nine years still to go.
Peek Nederland (some 150 employees) occupies a strong position in the
Netherlands in the field of intelligent mobility solutions. This
involves high-tech signalling systems, intelligent solutions for
public transport and traffic enforcement (e.g. average speed control
systems and digital speed cameras) and dynamic speed control based on
traffic jams on the motorways/roads (Motorway Traffic Management,
amongst others matrix signboards across motorways, for which Peek
Traffic has delivered most of the systems covering the motorway
network). Peek also enjoys a favourable position with a view to
future decision-making on the issue of road-pricing. From the
Netherlands, Peek is also active in Belgium and Germany. Setting up
establishments in these countries in due course is under
consideration.
Mobility is increasingly becoming an issue in Eastern Europe. The
activities in Poland and Croatia are therefore experiencing rapid
growth.
Peek Traffic is increasingly exporting its mobility solutions, both
in the rest of Europe and beyond. In this context, Peek Traffic is a
prominent member of ERTICO, the European representation organisation
of intelligent transport systems and services.
Synergy
Imtech and Peek Traffic enjoy strong market positions, are well
acquainted with each other and collaborate in various maintenance
contracts. Their activities complement each other splendidly in the
expanding mobility market. Co-operation generates a strong position
(revenues of approximately 265 million euro with 2,200 infra
specialists) for the development and execution of integral (total)
projects in Europe. Together Imtech Infra and Peek Traffic form the
ideal combination for advanced project management, intelligent
mobility solutions, ICT and delivery capacity in large-scale
maintenance projects, in PPP collaboration and with Asset Management
contracts. By offering high-tech total solutions, the partnership
forms an attractive party as a partner for various joint ventures for
national governments, for new projects, maintenance and
administration. Co-operation with Imtech ICT, which is already
carrying out joint projects with both Peek Traffic and Imtech Infra,
provides extra added value. Under the wings of financially strong
Imtech, the export position of Peek Traffic can increase further.
Status acquisition and position of management
The completion of the purchase is subject only to the approval by the
German Bundeskartellamt (competition authority). No reporting is
required to the competition authorities in the other European
countries. The relevant trade unions have been informed and the works
councils involved have given positive recommendations. The management
of Peek Traffic will remain in place following the acquisition,
therefore guaranteeing continuity. Everyone concerned sees excellent
growth potential as a result of this acquisition.
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Further information
Imtech
N.V.
Mr. M.E.J. (Mark)
Salomons
Company
Secretary
Telephone: +31 (0)182 54 35
14
E-mail: mark.salomons@imtech.nl
www.imtech.nl
Imtech Profile
Imtech N.V. is a European technical services provider in the fields
of electrical engineering, ICT (information and communication
technology) and mechanical engineering. With approximately 16,000
employees, Imtech realises annual revenue of almost ¤3 billion.
Imtech holds strong positions in the buildings, industry,
infrastructure and telecom markets in Belgium, Germany, Luxembourg,
the Netherlands, Eastern Europe, Spain and the UK and in the global
maritime market. Imtech provides services to a total of 12,000
clients. Imtech offers added value in the form of integrated and
multidisciplinary total solutions that lead to improved operating
processes and higher yields for clients and their clients in return.
Imtech also provides solutions that contribute to a sustainable,
liveable society, for example in the field of energy, mobility,
safety and the environment. Imtech shares are listed on the Euronext
Stock Exchange (Amsterdam), where Imtech is included in the Amsterdam
SmallCap Index (AScX) and the Next 150 index.
