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Imtech signs agreement on sale of Suir Engineering

Imtech, a leading UK technical services engineering group jointly owned by EDF and Dalkia, has signed a binding agreement with British private equity investor Duke Street, relating to the sale of 100 per cent of its Irish subsidiary, Suir Engineering Ltd.

The transaction is part of the exercise to prioritise the Dalkia Group’s strategic investments, and to refocus Dalkia and Imtech on their core areas.

Suir Engineering specialises in mechanical and electrical works. It is mainly active in Ireland, Denmark and Sweden in the data centre, pharmaceutical and renewable power generation markets.

Duke Street has been investing for more than 25 years in mid-sized companies in Western Europe. Its investment strategy focuses on the consumer, healthcare, industrial and service sectors.

Sylvie Jéhanno, CEO of Dalkia, commented: “For five years, Suir Engineering has experienced steady growth while maintaining the highest standards in safety and quality. We are very grateful to the Suir Engineering teams for their strong engagement and professionalism and wish them a great future under the new ownership of Duke Street.”

Mick Kennedy, Managing Director of Suir Engineering, added: “With the support of our current owners Dalkia and EDF Energy, Suir has had steady growth both in Ireland and Internationally. We are confident that under the new ownership of Duke Street we will continue to grow and provide high quality service to all our clients.”

The completion of the transaction remains subject to obtaining applicable regulatory approvals.

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