Walker Morris supports Endless on Imtech MBOPrint news article
Specialist lawyers at Walker Morris have advised Endless in its backing for the MBO of Imtech UK from its bankrupt Dutch parent to safeguard 2,500 jobs at the technical services provider.
The new business will be led by Managing Director Paul Kavanagh and is expected to also include the Irish division of Imtech once a separate deal is concluded. The business remains in a good position, with a significant order book.
The break-up of the global group, which operates in 35 countries, comes after the group collapsed earlier this month.
It is the seventh investment in five months for Endless, which has quickly started putting its £525m Fund IV to use after it was launched in April.
An Endless spokesperson said:
“Imtech UK & Ireland are profitable, well run businesses which through no fault of their own have experienced a short period of uncertainty following their Dutch parent’s insolvency. That was caused by troubles at the German subsidiary. We are moving quickly to provide Paul and his team with the funds they need to get this profitable business back to normality and properly capitalised again. We look forward to helping them grow their business in the coming years.”
Debbie Jackson, Corporate Partner, Peter Considine, Finance Partner with support from Gawain Moore and Jo Stephenson.
Debbie Jackson, Corporate Partner at Walker Morris said:
“This transaction provides Endless with another opportunity to grow a business within their investment portfolio. It also highlights our ability to provide strong teams of specialists who can react quickly to support our clients’ investments”