Gouda-based technical services firm Imtech announced on Tuesday that it is to take over its Swedish rival NVS for €235m.

The move is a breakthrough in the Scandinavian market said Imtech’s chairman René van der Bruggen.
Imtech says NVS is one of the biggest players on the Swedish and Norwegian markets with annual turnover of around €350m and 2,300 employees. It is also active in Finland.
Imtech said it will finance the acquisition with a loan and expects the Swedish firm to contribute to profits immediately. The takeover is in line with Imtech’s goal to reach a turnover of €5bn by 2012.