Clearwater International has advised Dutch-based technical services provider Imtech N.V. (“Imtech”) on its cross-border acquisition of UK automated control and real-time IT solutions business Capula.
The acquisition of Capula, which recorded a turnover of £40m in 2011, provides an exit for private equity firm, Dunedin, following its secondary buyout of the firm in August 2006. The Staffordshire-based company employs over 250 engineers across its offices in Stone, Gloucester, Reading and Aberdeen, providing systems integration solutions and process optimisation to the energy and utilities industries.
Clearwater International originated the deal off-market and represents the second transaction identified by the team for Imtech. In February 2011, Clearwater International’s business services team advised on Imtech’s acquisition of Birmingham-based technical maintenance and management company, Inviron. Imtech has annual revenues in excess of €5.1bn and is listed on the Euronext Stock Exchange as well as the Dow Jones STOXX 600 index.